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Italy’s Eni Awarded Ghana Offshore Oil, Gas Exploration License

8885814-Oil-barrels--Stock-Vector-oil-gas-barrelItaly’s Eni Awarded Ghana Offshore Oil, Gas Exploration License – Statement / Sputnik International

Italy’s Eni oil and gas company has been awarded an exploration license off the coast of Ghana, the company said in a statement Tuesday.

MOSCOW (Sputnik) – With nearly 42.5 percent of the stake, Eni Ghana is involved as the site’s operator across an area of 435 square miles and at depths from 330 feet to nearly 4,000 feet.

“Eni has been awarded a new exploration licence, the Cape Three Points Block 4, located in the prolific Tano basin, offshore Ghana. This acquisition will further strengthen the company’s position in the Ghanaian offshore,” it said following ratification of the Ghanaian parliament.

Located near the Eni-operated Offshore Cape Three Points (OCTP), the project is expected to start producing oil in 2017 and gas the following year.

Overall, the offshore fields are estimated to hold 500 million barrels of oil and 1.5 trillion cubic feet of gas

Source: http://m.sputniknews.com/business/20160330/1037175140/eni-exploration-licence.html

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