Wedoany.com Report-Sept. 18, Eni SpA and its Offshore Cape Three Points (OCTP) partners have signed a memorandum of intent with Ghana’s government to expand oil and gas output and pursue sustainable development projects. The initiative aims to reinforce energy supply and meet the country’s rising domestic demand.

Eni and its Offshore Cape Three Points project partners signed a memorandum of intent with Ghana's government to raise the West African country's oil and gas production and pursue 'sustainable initiatives'.

Eni stated: “The agreement will evaluate a comprehensive and integrated investment plan, aimed at contributing to national goals for reliable, affordable and low-impact access to energy.” One of the key proposals is to raise OCTP production capacity by combining offshore and onshore upgrades. The cooperation also covers exploration and development of the Eban-Akoma field in Cape Three Points Block 4, declared commercial in July 2025, expected to become a new supply source using existing infrastructure to shorten time to market.

In 2021, Eni confirmed a major discovery in Block 4 with the Eban-1X well, following the Akoma find. Preliminary estimates indicated the Eban-Akoma complex holds 500 to 700 million barrels of oil equivalent in place. Eni operates Block 4 with a 42.47 percent share, alongside Vitol Group (33.98 percent), Ghana National Petroleum Corporation (10 percent), Woodfields Upstream Ltd (9.56 percent) and Explorco (four percent). The block covers 1,127 square kilometers.

The OCTP project currently produces around 33 billion cubic feet of gas and four million barrels of oil and condensate annually, totaling about 11 million barrels of oil equivalent a year. All OCTP gas production is allocated to Sub-Saharan Africa. Eni reported that Ghana contributes around 34,000 boe per day to its net output. Since 2018, OCTP has generated more than 107 million barrels of oil and 480 billion cubic feet of gas, covering about 70 percent of Ghana’s gas demand for electricity generation.

Production comes from the Sankofa-Gye Nyame field, linked to the John Agyekum Kufuor floating production, storage and offloading unit. The project also includes activities in training, economic diversification, water and sanitation, and improved energy access.

Eni holds a 44.44 percent operating interest in OCTP, which spans 693 square kilometers. Vitol owns 35.56 percent and GNPC holds 20 percent. On May 29, 2025, Eni announced that drilling had commenced for the Sankofa East 1X Side Track 2 well, reflecting ongoing exploration and development work.

The new memorandum highlights Eni’s focus on both energy expansion and sustainability. By leveraging existing facilities, developing new fields, and aligning with Ghana’s energy priorities, the agreement is positioned to enhance domestic energy security while supporting long-term growth. The collaboration underscores the role of international partnerships in ensuring reliable and efficient resource development, while also integrating initiatives that promote broader socio-economic benefits.