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.