Eni SpA and its Offshore Cape Three Points (OCTP) project partners have signed a memorandum of intent with Ghana’s government to raise the West African country’s oil and gas production and pursue “sustainable initiatives”.
“The agreement will evaluate a comprehensive and integrated investment plan, aimed at contributing to national goals for reliable, affordable and low-impact access to energy”, Italy’s state-controlled Eni said in a statement on its website.
“Among the key initiatives proposed is the possible increase in OCTP project production capacity, leveraging synergies between offshore and onshore upgrades, aimed at increasingly meeting the country’s growing domestic energy demand.
“The collaboration focuses also on the evaluation of exploration activities and the new potential development of the Eban-Akoma field in Cape Three Points Block 4, which, following the declaration of commerciality announced in July 2025, is set to become a new and significant source of supply, leveraging on existing infrastructure for the benefit of value and time to market”.
In 2021 Eni announced a “significant” oil discovery in Cape Three Points (CTP) Block 4. The discovery, the Eban-1X well, is the second in the block, after the Akoma discovery, according to Eni.
“Preliminary estimates place the potential of the Eban-Akoma complex between 500 and 700 million barrels of oil equivalent in place”, Eni reported July 6, 2021.
Eni operates CTP Block 4, which spans 1,127 square kilometers (435.14 square miles), with a 42.47 percent stake. Its partners are Vitol Group (33.98 percent), Ghana National Petroleum Corp (10 percent), Woodfields Upstream Ltd (9.56 percent) and Explorco (four percent), according to information on the Ghanaian Petroleum Commission’s online Petroleum Register.
The OCTP project, meanwhile, produces 33 billion cubic feet of natural gas and four million barrels of oil and condensate annually – in total, 11 million barrels of oil equivalent a year, Eni says on its website. OCTP is the only development whose gas output is entirely dedicated to Sub-Saharan Africa, according to Eni.
Announcing the memorandum of intent, Eni noted Ghana contributes about 34,000 boe per day to its net production.
OCTP produces through the Sankofa-Gye Nyame field, connected to the John Agyekum Kufuor floating production, storage and offloading vessel.
“Since 2018, the OCTP project has produced over 107 million barrels of oil and 480 billion standard cubic feet of gas, helping to meet approximately 70 percent of the country’s gas demand for power generation”, the statement said.
“The joint venture’s project portfolio also includes initiatives in training, economic diversification, access to water and sanitation, and energy access”.
On May 29, 2025, Eni said drilling had started for the Sankofa East 1X Side Track 2.
Eni holds a 44.44 percent operating stake in OCTP, which spans 693 square kilometers, according to the Petroleum Register. Vitol owns 35.56 percent. GNPC holds 20 percent.
To contact the author, email jov.onsat@rigzone.com
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