Continental Focus, International Reach

ENI and Vitol Garner More Ghanaian Acreage

Sunday, July 7, 2019

ENI and Vitol have gained new acreage offshore Ghana. The two firms picked up a stake in the Block WB03 exploration and production license. The block was offered in Ghana’s competitive bidding process.

Located in Ghana’s Tano Basin, ENI will hold a 70% stake and Vitol will hold the remaining 30%. ENI will be the operator of the license and besides Vitol, the JV will include GNPC and a local registered company that will be identified during contract finalization.

The contract award is subject to approval from Ghanaian authorities.

ENI also holds rights to the development areas of Sankofa and Gye Nyame as well as to the exploration and production area of CTP-Block 4. The new block is located approximately 50 km south-east from the FPSO John Agyekum Kufuor that is currently producing oil and gas from Sankofa Field. The proximity of the FPSO will allow for synergies in case of new discoveries in Block WB03.