Italy’s Eni has secured the new Cape Three Points Block 4 licence in the Tano basin in offshore Ghana following the ratification by the Ghanian Parliament.

The licence was awarded to a joint venture, which involves Eni Ghana (42.4691%) as operator.

Other partners are Vitol Upstream Tano (33.9753%), Ghana National Petroleum (10%), Woodfields Upstream Ghana (9.5556%) and GNPC Exploration and Production (4%).

The new block lies near the existing Sankofa and Gye Nyame fields, which are already being developed by GNPC, Vitol and Eni to provide gas for Ghana’s thermal power sector to 2036.

"The new block partially surrounds the Offshore Cape Three Points block also operated by Eni."

Covering an area of 1,127km² in water depths ranging from 100m to 1,200m, the new block partially surrounds the Offshore Cape Three Points (OCTP) block also operated by Eni.

In case exploration drilling results in commercially viable reserves, the block is set to benefit from the OCTP project infrastructure currently under development.

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The OCTP project involves integration and synergic development of various oil and gas discoveries including Sankofa Main, Sankofa East and Gye-Nyame.

As part of the project, Eni plans to develop multiple subsea wells tied-back to a FPSO, which will be connected to shore through a gas transport line.

Oil production from OCTP is slated to begin in 2017, while gas production is expected in 2018.

The gas will be supplied to the domestic market for power generation.