New licence awarded in Ghana
A consortium comprising GNPC, Explorco, Vitol, Eni and Woodfields, has been awarded a new exploration licence, Cape Three Points Block 4, located in the Tano Basin, offshore Ghana. GNPC, Vitol and Eni are already developing the Sankofa and Gye Nyame fields to provide gas for Ghana’s thermal power sector to 2036 and the new block lies near the existing Sankofa / Gye Nyame fields.
The Cape Three Points Block 4 licence was awarded following the ratification of the Parliament of the Republic of Ghana. The new block covers an area of 1127 square kilometers in water depths ranging from 100 to 1200 metres. If exploration drilling results in commercially viable reserves, the project will be able to use the infrastructure already under development.
The existing project involves the development of multiple subsea wells tied back to a FPSO which will be connected to shore via a gas export line. Oil production start-up is expected in 2017, while the gas production which will supply the domestic market for power generation to 2036, is expected in 2018.
Vitol’s E&P business has been present in Ghana since 2006 when it was awarded the licence for the Sankofa and Gye Nyame fields. In 2009 Eni farmed into the licence and took over as operator.
Vitol is an energy and commodities company; its primary business is the trading and distribution of energy products globally – it trades over 6mbpd of crude oil and products and, at any time, has 200 ships transporting its cargoes.
Vitol’s clients include national oil companies, multinationals, leading industrial and chemical companies and the world’s largest airlines. Founded in Rotterdam in 1966, today Vitol serves clients from some 40 offices worldwide and is invested in energy assets globally including; over 17.9mm3 of storage across six continents, 390kbpd of refining capacity and Shell-branded downstream businesses in 16 African countries, as well as Australia. Revenues in 2015 were $168 billion. For more information: www.vitol.com.