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Eni: commercial prospects for Ghana's oil

Sept. 20, 2012 at 7:17 AM   |   Comments

MILAN, Italy, Sept. 20 (UPI) -- Italian energy company Eni said its first oil discovery about 30 miles off the coast of Ghana has the potential for commercial development.

Eni announced it made a discovery of oil in the Sankofa East-1X well. The company said it encountered nearly 250 feet of gross oil pay at the well. A production test yielded about 5,000 barrels of oil per day.

"The discovery is relevant as it may have the potential for commercial development and confirms the importance of the block also in terms of the presence of oil, as well as natural gas and condensates," the company said in a statement.

Eni along with its partners at Vitol and state energy company GNPC signed a memorandum of understanding to develop and market natural gas from the Sankofa and surrounding plays.

"Our focus is to progress the rapid development of the gas discoveries, working closely with the Ministry of Energy and its representatives," Vitol President Ian Taylor said in a statement.

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

© 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.
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