BMI View : Eni’s acquisition of a 35% operating stake in the Keta Block is its third such acquisition offshore Ghana and indicates just how optimistic the company is about the area’s hydrocarbon potential. Eni expects offshore Ghana to be a contributor towards its longer-term output growth targets.
Italy’s Eni has acquired operatorship and a 35% stake in the Keta Block offshore Ghana from explorer Afren . This is the third block offshore Ghana that Eni operate and demonstrates the company’s confidence in the area’s potential. Having ceased operations in the country in the 1970s, Eni re-entered Ghana in 2009, when it acquired operatorship and majority shares in the Offshore Cape Three Points (OCTP) and Offshore Cape Three Points South (OCTPS) exploration licences. Following the latest deal, Eni will work alongside partners Afren, which will maintain a 35% working interest,
Mitsui Exploration & Production Ghana (20%) and Ghana National Petroleum Corporation (GNPC; 10%). The deal remains subject to approval by the government and project partners.
The Keta Block is located in the Volta River basin, off eastern Ghana, and covers an area of 5,500sq km in water depths of 1,000-2,800 metres (m). According to an independent assessment by Netherland, Sewell …