Italian Embassy Congratulates Ghana On “First Oil” From Sankofa OCTP Field
The Embassy of Italy to Ghana has congratulated the Government of Ghana,
the Italian Oil & Gas company, ENI, oil trading company, VITOL and
the Ghana National Petroleum Corporation (GNPC) for the first oil
extracted from the OCTP project well ahead of schedule.
Ghana took a major step towards the attainment of energy and power security when it signed an agreement for the development of the Offshore Cape Three Points (OCTP) integrated oil and gas project under the previous John Dramani Mahama administration.
Ghana took a major step towards the attainment of energy and power security when it signed an agreement for the development of the Offshore Cape Three Points (OCTP) integrated oil and gas project under the previous John Dramani Mahama administration.
The $7 billion project, was to be undertaken by Italy's largest oil company, Eni Spa, in collaboration with Vitol Energy, to see to the development of the Sankofa and Gye Nyame fields for the provision of substantial gas to operate Ghana’s thermal power plants for 20 years.
On Thursday 6th July 2017, a ceremony was held at the Takoradi offshore base to officially announce the first oil from the ENI Sankofa-Gye Nyame field. Key personalities present at the event included the President, H.E Nana Akuffo Addo, Former President John Agyekum Kuffuor, Mr. De Scalzi, Chief Executive Officer of ENI, the Chief Operations Officer of Vitol, Mr Taylor and Dr Kofi Kodua Sarpong, the Chief Executive Officer of GNPC.
Commenting on the project, the Chargé d’Affaires of the Embassy, Mr.
Lorenzo Pinelli, on behalf of his Ambassador Mr. Giovanni Favilli, said
“the OCTP project makes the bilateral relations between Ghana and Italy
even stronger.
It perfectly fits in a long trail blazed by the first Italians who
arrived in Ghana more than 100 years ago in order to build the first
roads, railways and mines of this beautiful country. Our shared and
long-standing history continues with many other infrastructural
achievements, such as the construction of the Akosombo dam by Impregilo
Salini and the Tema Oil Refinery (TOR) by AGIP/ENI which is currently in
this country again with the OCTP project, cementing a long-term
partnership between Ghana, Italy, ENI, Vitol, and the GNPC”.
Mr. Pinelli further stated that “even
more laudable is the fact that the gas from this field will be
commercialized locally in order to drive and promote the development of
this country and to put a definitive end to the much hated “dumsor”.
The cost of this kind of energy will be significantly economical for the
people of Ghana and an added advantage for Small and Medium Enterprises
as they further create a larger industrial sector capable of providing
thousands of jobs every year”.
The field is estimated to produce
80,000 barrels of oil per day after the start of commercial production
and will also start producing gas in the second quarter of 2018.
By Chris Koney
The project will deliver 170 million cubic feet of gas per day and it is
expected to generate an additional 1,100 megawatts of power for Ghana.
Gas will be processed and transported via a dedicated pipeline to
onshore gas-receiving facilities located near Sanzule, a coastal village
in the Western Region.
The gas will also be compressed and injected into the Western Corridor
Gas Pipeline for transportation to industrial customers in Ghana Crude
oil will also be stored in the FPSO and offloaded to tankers for sale on
the international market.
Considered as one of the global super-majors, ENI is currently operating in 73 countries and Africa provides over half of ENI’s total production of oil and natural gas, confirming the company as the leading international producer across the continent. The Italian Government owns a 30.303% golden share in ENI.
Considered as one of the global super-majors, ENI is currently operating in 73 countries and Africa provides over half of ENI’s total production of oil and natural gas, confirming the company as the leading international producer across the continent. The Italian Government owns a 30.303% golden share in ENI.
By Chris Koney
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