ENI will start commercial oil and gas production at its Sankofa field off the coast of Ghana in July, three months ahead of schedule.
According to Seeking Alpha, The Sankofa field, which will pump 45,000b/d, is in phase one of the $7.9b Offshore Cape Three Points (OCTP) project that will also produce up to 180mcf/d of gas from nearby Gye Nyame reserve by the end of 2018.
The company said in a statement emailed to Reuters “ENI has launched production from the integrated oil and gas development project in the OCTP block, off Ghana’s western coast, in just two and half years, and three months ahead of schedule.”
OCTP is expected to more than double domestic gas supply and help restore rapid economic growth in Ghana.
ENI holds a 44.44% stake in OCTP, representing the largest foreign direct investment in Ghana’s history.
Upstream trader Vitol holds 35.56% stake in OCTP, while state oil company Ghana National Petroleum Corporation (GNPC) has a combined carried and participating interest of 20%.
A senior GNPC official stated that the project could raise Ghana’s oil output to around 200,000b/d and gas production to more than 300mcf.
“We have started production but not officially … It marks the beginning of Ghana’s journey towards petroleum-driven sustained economic growth,” the official said.