Eni and Vitol have been awarded an exploration and manufacturing license in Block WB03 positioned in Ghana’s prolific offshore Western Basin below a aggressive bidding course of, the businesses mentioned in a joint assertion Wednesday.
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Italy’s Eni would be the operator of the license, together with companions Vitol, state-owned Ghana Nationwide Petroleum Company (GNPC) and an area registered firm that shall be recognized in the course of the contract finalization.
The block is a part of Ghana’s first oil and fuel licensing spherical, launched in October final 12 months.
The West African nation, which grew to become an oil producer in 2010 when it started pumping from the offshore Jubilee area, is eager to unlock its huge oil and fuel assets.
Ghana produces about 180,000-200,000 b/d, half of which comes from the flagship Jubilee area operated by Tullow Oil. Many of the remaining oil is…