President Mahama and Eni CEO discuss expansion of upstream petroleum operations in Ghana
President John Dramani Mahama and CEO of ENI Claudio Descalzi have met to discuss expanding operations in Ghana’s upstream petroleum sector.
During their talks in Accra, Eni presented new short- and medium-term exploration and development opportunities to the President. The Italian company expressed a keen interest in increasing its stake in the upstream petroleum industry.
According to Descalzi, this move reflects Eni’s strong confidence in Ghana’s energy sector.
Mr. Descalzi highlighted the success of the Offshore Cape Three Points (OCTP) project, which represents the largest private investment in Ghana. Completed ahead of schedule and under budget, the project achieved first oil in 2017 and first gas in 2018.
The gas produced from the OCTP project is exclusively dedicated to meeting domestic demand, offering a stable and reliable energy source for Ghana. It accounts for approximately 70 percent of the country’s total domestic gas production.
The meeting also provided a platform to discuss Eni’s plans for economic diversification in Ghana.
Eni has been operating in Ghana since 2009 and serves as the operator of the OCTP project with a 44.4 percent stake. Its partners include Vitol (35.6 percent) and the Ghana National Petroleum Corporation (20 percent).
In addition to the OCTP project, Eni’s portfolio in Ghana encompasses various initiatives in training, economic diversification, water and sanitation access, and energy accessibility.
