Eni and Vitol have signed a MoU with the Government of Ghana, and Ghana National Petroleum Corporation (GNPC) for the development and commercialization of discovered gas resources in the Offshore Cape Three Points (OCTP) Block located in the Tano Basin of Ghana.
The OCTP Block is operated by Eni with a 47.222% stake, in partnership with Vitol (37.778%) and GNPC (15%).
The MoU sets out the key principles for future development of the discoveries and commercialisation of the gas within the contract area. The MoU focuses particularly on the domestic gas market, in which Eni and its joint venture partners wish to play a prominent role.
The signing of this MoU is in line with Eni's growth strategy in the region and reaffirms the company's leading position in exploiting indigenous gas resources and contributing to the socio-economic growth of the countries where it operates.
Adapted from press release by Peter Farrell.
Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/21082012/eni-and-vitol-to-commercialise-octp-block-offshore-ghana/