MILAN, Italy — Eni, Vitol, and Ghana National Petroleum Corp. (GNPC), along with the President of the Republic of Ghana John Dramani Mahama and the Minister of Petroleum Emmanuel Armah-Kofi Buah, have signed an agreement to proceed with the Offshore Cape Three Points project in Ghana.

First oil is expected in 2017, first gas in 2018, and peak production of 80,000 boe/d in 2019.

The OCTP integrated project is a deep offshore development approximately 60 km (37 mi) offshore Ghana. It comprises oil and non-associated gas fields and will access around 41 bcm (1.45 tcf) of gas and 500 MMbbl of oil in place.

Eni, through its own subsidiary Eni Ghana, is operator with a 47.22% stake. Other partners are Vitol with 37.77% and GNPC with 15%.

Source: Offshore Magazine