Tuesday, September 29, 2009

Vitol Teams with Eni in Ghana

Eni SpA announced yesterday that it has returned to Ghana through the acquisition of two offshore exploration blocks from Vitol.
The exploration licenses are for the Offshore Cape Three Points and Offshore Cape Three Points South.

Eni is Italy's biggest oil and natural gas company by revenue and had a presence in Ghana until the 1970s.

"We are delighted to be teaming up with Eni in Ghana at this exciting time. Eni brings world-class operating capability to the partnership, and we are strongly aligned in our view of the prospectively of our blocks and in our ambition to expedite their exploration and development, starting with our recent Sankofa discovery. Vitol has been an investor in Ghana's energy sector for more than 15 years and we recognized that teaming up with a major company with leading-edge technical know-how and operational capabilities, including in the LNG and power generation businesses, would benefit the nation. We are therefore very pleased that the Minister has approved this assignment," Chris Joly, Vitol's Upstream Manager said of the agreement with Eni.


Wednesday, September 16, 2009

Vitol and GNPC discover oil and gas offshore Ghana

The upstream subsidiary of Vitol and the Ghana National Petroleum Corporation (GNPC) discovered oil and gas reserves in the Sankofa-1A well offshore Ghana.

It comprised 33.1 metres of gas and 3.2 metres of oil in reservoir sands of Campanian age.

Vitol said this success confirms the prospects of the reservoir sands in the Tano/Cape Three Point basin blocks offshore western Ghana at the Jubilee field.

Check out the release and coverage by Peacefmonline.com, UPI and upstreamonline.

Tuesday, September 1, 2009

Mike Loya on Focus Washington

Focus Washington's Don Goldberg interviewed Vitol President and CEO Mike Loya to discuss oil prices and how they are behaving. Check out the video and the release.