UPI en Español  |   UPI Asia  |   About UPI  |   My Account
Search:
Go

Eni, Vitol ink gas deal in Ghana

|
 
Published: Aug. 21, 2012 at 8:36 AM

MILAN, Italy, Aug. 21 (UPI) -- Italian energy company Eni signed an agreement with representatives in Ghana to develop and commercialize offshore natural gas reserves for the domestic market.

Eni and Dutch commodities trading company Vitol signed a memorandum of understanding with representatives from the Ghanaian Ministry of Energy and the Ghana National Petroleum Corp.

Eni will serve as the operator in the development and commercialization of natural gas reserves discovered at the Offshore Cape Three Points block.

Eni announced in April that it encountered a 114-foot column of natural gas and a minor presence of oil at the Sankofa discovery off the coast of Ghana, situated within the block.

The license for the Three Points block covers an area of 268 square miles. Water depths range from 160-4,500 feet.

Ghana is emerging as a regional energy powerhouse. The country shipped its first delivery of oil from the giant offshore Jubilee field in January.

Eni said the MOU focuses primarily on the domestic natural gas market in Ghana.

Recommended Stories
© 2012 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.

Order reprints
Join the conversation
Most Popular Collections
'Star Trek Into Darkness' screening NBC upfronts Met Ball 2013
'Great Gatsby' premieres in New York Spire raised on top of One WTC 2013: Celebrity break ups and divorces
Additional Energy Resources Stories
1 of 17
Alessandra Ambrosio attends the "Monsters University" premiere with their sons in Los Angeles
View Caption
Brazilan model Alessandra Corine Ambrosio attends the premiere of the animated motion picture comedy "Monsters University", at the El Capitan Theatre in the Hollywood section of Los Angeles on June 17, 2013. UPI/Jim Ruymen
fark
FBI says the snooping prevented a bomb plot on Wall Street. Wait, that would have been bad?
Indian court solves premarital sex issue, rules any couple sleeping together is married. Next up?...
Union boss in the UK accuses a 'young woman of having babies to get state handouts'. FARK: Kate...
Ellen DeGeneres selling Beverly Hills condo. The condo is fantastic, but the rugs are all chewed...
After some careful soul-searching, Chrysler decides they would rather not be sued into oblivion...
Have you flown through Dulles Airport within the past week and a half? Good luck with the measles...