• 5 minutes USGS Announces Largest Continuous Oil Assessment in Texas and New Mexico
  • 10 minutes Venezuela continues to sink in misery
  • 13 minutes U.S. Senate Advances Resolution To End Military Support For Saudis In Yemen
  • 16 minutes IEA Sees Global Oil Supply Tightening More Quickly In 2019
  • 2 mins Paris Is Burning Over Climate Change Taxes -- Is America Next?
  • 7 hours $867 billion farm bill passed
  • 40 mins Rage Without Proof: Maduro Accuses U.S. Official Of Plotting Venezuela Invasion
  • 4 hours Has Global Peak Diesel Arrived?
  • 16 hours OPEC Cuts Deep to Save Cartel
  • 12 hours Sleeping Hydrocarbon Giant
  • 9 hours How High Can Oil Prices Rise? (Part 2 of my previous thread)
  • 15 hours Air-to-Fuels Energy and Cost Calculation
  • 14 hours What will the future hold for nations dependent on high oil prices.
  • 17 hours And the War on LNG is Now On
  • 15 hours Global Economy-Bad Days Are coming
  • 12 hours Could Tesla Buy GM?
Iran Widens Discount For Crude To Asia

Iran Widens Discount For Crude To Asia

Iran has deepened the discount…

The Next Big Development In Offshore Oil & Gas

The Next Big Development In Offshore Oil & Gas

German tech company Siemens announced…

Eni Pumps First Oil From 45,000 Bpd Field Offshore Ghana

Offshore

Italian oil and gas major Eni SpA started pumping first oil from the 45,000-bpd Sankofa oil field on Thursday, Italy’s Embassy in Ghana said on Twitter.

The first-oil ceremony was attended by Ghana’s President Nana Akufo Addo and Eni’s chief executive officer Claudio Descalzi.

Sankofa is one of the fields of the US$7.9 billion Integrated Oil&Gas Development Project, in the Offshore Cape Three Points (OCTP) block off Ghana’s western coast, for which Eni said in May that it would start production ahead of schedule.

The OCTP consists of the Sankofa Main, Sankofa East, and Gye-Nyame fields, which have around 770 million barrels of oil equivalent (mboe) in place, of which 500 million barrels of oil and 270 mboe of non-associated gas, or about 40 billion cubic meters. The project also includes the development of gas fields whose production is earmarked entirely for Ghana’s domestic market.

Eni is operator of the OCTP block with a 44.44-percent stake, while Vitol owns 35.56 percent, and Ghana National Petroleum Corporation (GNPC) – the remaining 20 percent.

Eni has been operating in Ghana since 2009 and with the startup of OCTP project the Italian group becomes one of Ghana’s main energy operators.

Related: Corpus Christi Set To Become The Next Oil Export Hotspot

Last year, Eni was awarded a new exploration license for the 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, according to the Italian company.

At the first oil ceremony, Eni’s CEO Descalzi said that the group had decided to sell the gas locally and make Ghana an energy hub.

Ghana’s oil production is expected to average 200,000 bpd this year, despite a two-month shutdown at one of the small African nation’s major production facilities.  

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News