Eni Ghana and Vitol have signed two memoranda of understanding (MoUs) with Ghana's government covering two offshore blocks in the Tano Basin, paving the way for the parties to finalize petroleum agreements.
The MoUs cover blocks GH WB 3 and GH WB 8, which span about 2,100 square kilometers in water depths ranging from 750 to 2,800 meters.
Ghana's Minister for Energy and Green Transition John Jinapor signed the agreements on behalf of the government, with executives from Ghana National Petroleum Corporation (GNPC) witnessing the signing.
The two blocks fit Eni's near-field and Infrastructure-Led Exploration strategy, which targets prospective areas close to existing infrastructure and established producing areas.
The agreements follow a memorandum of intent signed last year and represent a further step towards exploration of the two offshore areas. The petroleum agreements have yet to be finalized.
Eni has operated in Ghana's offshore exploration and production sector since 2009 and currently has equity production of about 40,000 barrels of oil equivalent per day.
The company operates the OCTP project with a 44.4% interest, alongside Vitol with 35.6% and GNPC with 20%.