ENI and Ghana have
signed an agreement that will have the Italian firm developing natural
gas resources off the coast of the West African country. In a statement
the company said that it, partnered with Vitol, entered into a MoU with
the government and state-run GNPC to develop the Offshore Cape Three Points (OCTP) Block.
ENI said the MoU will focus mainly on the domestic gas market in Ghana where it intends to play a prominent role.
The agreement with Ghana sets out the key principles for future development of the discoveries and commercialization of the gas within the contract area.
The MoU is also part of the Italian firm’s plans to expand on the continent.
The company operates the OCTP Block with a 47.2% stake, Vitol has 37.7%, and GNPC 15%