Italy’s Eni has started production from the Offshore Cape Three Points (OCTP) block, off Ghana’s western coast.
The OCTP integrated oil & gas development is made up of the Sankofa Main, Sankofa East and Gye-Nyame fields, which are located about 60 km off Ghana’s Western Region coast.
The fields have about 770 million barrel of oil equivalent (mboe) in place, of which 500 million barrels of oil and 270 mboe of non-associated gas (about 40 billion cubic meters).
Production will be carried out via the “John Agyekum Kufuor” floating production, storage and offloading unit (FPSO), which will produce up to 85,000 barrels of oil equivalent per day (boepd) through 18 underwater wells.
"Starting production only two and a half years after the approval of the Development Plan – Eni CEO Claudio Descalzi said - is an extraordinary result and a reason for great pride. It certifies our exploration skills and knowledge, as well as our field development vision, and it confirms the effectiveness of our new operational model, where Eni has a central role in project management, aimed at improving time-to-market. The launch of OCTP will provide gas to Ghana for over 15 years and the resulting electricity will give a real boost to the country’s development."
In 2016, Eni obtained a new exploration license, Cape Three Points Block 4, adjacent to the OCTP Block. If successful, synergies with OCTP will allow for a fast-tracked start-up. The drilling of the first exploration well is expected in 2018, in continuity with the drilling of Block OCTP wells.
Eni is operator of the OCTP block with a 44.44 per cent stake, while Vitol holds 35.56 per cent and Ghana National Petroleum Corporation (GNPC) 20 per cent.