Tuesday, 11 February

Mahama meets Eni CEO to chart way forward for offshore CapeThree Points project

Business
Eni and Vitol logo

President John Dramani Mahama met with Eni's Chief Executive Officer, Claudio Descalzi, in Accra on February 7, 2025, to discuss the company's ongoing and future activities in Ghana.

During the meeting, Mr Descalzi highlighted the success of the Offshore Cape Three Points (OCTP) project, which stands as the largest private investment in Ghana's energy sector.

The project was completed ahead of schedule and under budget, with the first oil achieved in 2017 and the first gas in 2018.

Notably, gas from the OCTP is entirely allocated for Ghana's domestic consumption, contributing approximately 70% of the country's gas production.

 

The discussions also encompassed potential short- and medium-term exploration and development opportunities, as well as Eni's plans for economic diversification within Ghana.

Eni has been active in Ghana since 2009 and operates the OCTP project with a 44.4% stake, in partnership with Vitol (35.6%) and the Ghana National Petroleum Corporation (20%).

Beyond its energy projects, Eni is involved in initiatives focusing on training, economic diversification, access to water and sanitation, and energy accessibility.

 

This meeting underscores the ongoing collaboration between the Ghanaian government and Eni, aiming to bolster the nation's energy infrastructure and explore avenues for sustainable economic growth.

Source: Classfmonline.com/Cecil Mensah