Eni, Vitol and Ghana National Petroleum Corp. (GNPC) along with the president of the Republic of Ghana and the minister of petroleum signed the agreement to proceed with the Offshore Cape Three Point (OCTP) integrated oil and gas project in Ghana. First oil is expected in 2017, first gas in 2018 and the peak production will be 80,000 boe/d in 2019.

The OCTP integrated project is a deep offshore development located about 60 km (37 miles) from the Ghanaian Western Region’s coast. It comprises oil and non-associated gas fields and will access around 41 Bcm (1.45 Tcf) of gas and 500 MMbbl of oil in place.

Eni, through its own subsidiary Eni Ghana, is Block OCTP’s operator with a 47,22% stake. Other partners are Vitol with 37,77% and GNPC with 15%.