Eni discovers oil in Ghana’s OCTP Block 4
Ente Nazionale Idrocarburi (Eni), an Italian multinational oil and gas company and lead operator of the Offshore Cape Three Point (OCTP), has made a new oil discovery in Ghana.
The discovery was made on the Eban exploration prospect, the second well drilled in Cape Three Point(CTP) Block 4.
Combined with another volume of oil initially discovered as the Akoma complex, it is estimated that the two could be 700 million barrels of oil.
It is located approximately 50 kilometres off the coast and about 8 kilometres Northwest of Sankofa Hub, where the John Agyekum Kufuor FPSO is located.
It was drilled by the Saipem 10000 drilling ship in a water depth of 545 metres and reached a total depth of 4,179 meters (measured depth).
Eban – 1X proved a single light oil column of approximately 80 metres in a thick sandstone reservoir interval of Cenomanian age with hydrocarbons encountered down to 3949m (true vertical depth).
A statement from Eni said the discovery had been assessed following comprehensive analysis of extensive 3D seismic datasets.
“The acquired pressure and fluid data (oil density and Gas-to-Oil Ratio) and reservoir properties are consistent with the previous discovery of Akoma and nearby Sankofa field,” Eni said.
“The production testing data show a well deliverability potential estimated at 5000 bopd, similar to the wells already in production from Sankofa Field.”
The estimated hydrocarbon in place between the Sankofa field and the Eban-Akoma complex is now more than 1.1 Bboe and further oil in place upside could be confirmed with an additional appraisal well.
The statement also noted that due to its proximity to existing infrastructures, the discovery could be fast-tracked to production with a subsea tie-in to the John Agyekum Kufuor FPSO, with the aim to extend its production plateau and increase production.”
The Joint Venture of CTP Block 4 is operated by Eni (42.469%), on behalf of partners Vitol (33.975%), GNPC (10%), Woodfields (9,556%), GNPC Explorco (400%).
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Utilisation of revenue
Meanwhile, a Commercial Court in Accra on Friday, 25 June 202) ruled that 30% of revenue from an ENI-operated oilfield be placed in an escrow account.
Springfield, which operates the Afina oilfield neighbouring ENI’s Sankofa field, had asked the court to preserve revenue from Sankofa until a deal is reached and each company gets a share.
The court said its decision would protect the interests of Springfield while allowing Sankofa, which produces over 50,000 barrels of oil per day, to continue operating and cover costs.
With billions of dollars at stake, the ruling could escalate the dispute if it goes to international arbitration.
Eni’s operation in Ghana
Eni has been present in Ghana since 2009 and accounts currently for a gross production of about 80,000 barrels of oil equivalent per day.
In 2017, Eni started production in the Offshore Cape Three Point, which is one of the integrated projects that Eni operates in Africa.
The OCTP has reserves for about 40 billion cubic meters of unassociated gas and 500 million barrels of oil and is located about 60 kilometres off the country’s coast.
In May 2019, we made a new gas and condensate discovery in the CTP-Block 4.
The well, drilled on the Akoma exploration prospect located about 50 km from the coast and 12 km north-west from the Sankofa hub, has between 550 and 650 billion cubic feet of gas and 18-20 million barrels of associated condensate.
In 2019 development activity of the OCTP oil and gas project was completed. In addition, development activities of the Takoradi-Tema Interconnection project were started including the commercial agreements.