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Vitol announces successful drilling of Sankofa East-2A, confirming the development potential of the OCTP Block oil discovery

The Vitol Group is pleased to announce that appraisal well Sankofa East-2A drilled on the Cenomanian oil discovery and announced last year in the Offshore Cape Three Points (OCTP) block, has been successfully completed by operator Eni Ghana Exploration and Production Limited. Sankofa East-2A was drilled 8 km south-west of the discovery well, about 50 km off the coast of Ghana, confirming a significant extension of the oil accumulation. The estimated potential Oil-in-Place is about 450 million barrels with recoverable resources of up to 150 million barrels.

Sankofa East 2A well, which reached a total depth of 4,050 meters, was drilled in 990 meters of water. The well encountered 23 meters of gas and condensate gross pay (17 m net), and 76 meters of gross oil pay (30° API) (32 m net) in good sands of cretaceous age.

Eni will now commence development studies for the Cenomanian oil discovery, in parallel with engineering studies for the development and commercialization of the gas resources in the block being undertaken pursuant to the Memorandum of Understanding signed recently by Eni, Vitol and the Ghana National Petroleum Corporation (GNPC) with the Ministry of Energy of Ghana.

Vitol Upstream Ghana Limited holds a 37.778% interest in the OCTP block, Eni Ghana Exploration and Production Limited, 47.222%, and state company GNPC 15.0% with an option for an additional 5.0%.

Note: All press enquiries should be directed to ENI, operator of the OCTP block
for the attention of:  Fabio Cavanna.  email:  Fabio.Cavanna@enighana.eni.com

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