Eni makes major oil discovery in Ghana
Eni has been present in Ghana since 2009 and accounts for gross production of roughly 80,000 barrels of oil equivalent per day
The Italian multinational oil and gas company Eni announced on Tuesday that it has made a major oil discovery in Ghana.
A statement issued by the company said the discovery, in the Eban exploration prospect through the Cape Three Points (CTP) Block 4 well, will potentially produce 700 million barrels of oil equivalent (Mboe).
“Eni announces a significant oil discovery on the Eban exploration prospect in CTP Block 4, offshore Ghana. The Eban – 1X well is the second well drilled in CTP Block 4, following the Akoma discovery. Preliminary estimates place the potential of the Eban-Akoma complex between 500 and 700 Mboe in place,” the statement said.
“The Eban – 1X well is located approximately 50 kilometres off the coast and about eight kilometres north-west of Sankofa Hub, where the John Agyekum Kufuor FPSO is located. It was drilled by the Saipem 10000 drilling ship in a water depth of 545 metres and reached a total depth of 4,179 metres (measured depth).
“Eban – 1X proved a single light oil column of approximately 80 metres in a thick sandstone reservoir interval of Cenomanian age with hydrocarbons encountered down to 3,949 metres (true vertical depth),” the Eni statement added.
Fast-track production
The statement said that, given its proximity to existing infrastructure, the new discovery can be fast-tracked to production with a subsea tie-in to the John Agyekum Kufuor FPSO, with the aim to extend its production plateau and increase production.
The Eban discovery is testimony to the success of the infrastructure-led exploration strategy that Eni is carrying out in its core assets worldwide.
The joint venture of CTP Block 4 is operated by Eni (42.469%), on behalf of its partners Vitol (33.975%), GNPC (10%), Woodfields (9.556%) and GNPC Explorco (4.00%).
Eni has been present in Ghana since 2009 and accounts for gross production of approximately 80,000 barrels of oil equivalent per day.
Unitisation
Meanwhile, a commercial court in Accra on Friday (25 June 2021) ruled that 30% of revenue from an Eni-operated oilfield be placed in an escrow account.
Springfield, which operates the Afina oilfield adjoining Eni’s Sankofa field, had asked the court to preserve revenue from Sankofa until a deal is reached under which each company will get a share.
The court said its decision would protect the interests of Springfield while allowing Sankofa, which produces over 50,000 barrels of oil per day, to continue operating and cover costs.
With billions of dollars at stake, the ruling could escalate the dispute if it goes to international arbitration.
Fred Dzakpata
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