Natural Gas World
  • Natural Gas News

    Xinhua: ENI, VITOL secure 6 bln USD oil/gas deal from Ghana

    old

Summary

ENI and VITOL Energy have secured a 6.0- billion-dollar deal from the government of Ghana to commence oil and gas exploration and production

by: Sruthi

Posted in:

Press Notes, Africa

Print This Article

Xinhua: ENI, VITOL secure 6 bln USD oil/gas deal from Ghana

Italian multinational oil and gas company ENI, and Swiss-based VITOL Energy have secured a 6.0- billion-dollar deal from the government of Ghana to commence oil and gas exploration and production, a release said here Monday.

This paves the way for the 6.0 billion OCTP (Sankofa Project) to start commercial production of oil and gas by mid-2017 to augment the country's current production capacity.

The release explained that the approval came after year-long negotiations between the government of Ghana and ENI/VITOL, operators of the offshore Cape Three Points (OCTP) block.

The government side comprised officials from the Ministry of Energy & Petroleum, Ministry of Finance, and the Ghana National Petroleum Corporation (GNPC).
MORE

Related Articles