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Ghana says signs oil and gas exploration deal with Italy's ENI

Published November 24, 2014 Updated November 24, 2014 09:34am

1 min

By Parvez Jabri

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ACCRA: Ghana's government said on Monday it had signed a $6 billion deal to allow Italy's Eni Exploration to start oil and gas work at the Offshore Cape Three Points block and deploy a third floating production storage and offloading (FPSO) vessel.

The deal is subject to parliamentary approval and the block should start producing oil and gas by mid-2017, a statement said. Ghana produces around 100,000 barrels per day from the offshore Jubilee field. It plans to start production of oil and gas from the TEN field in 2016.

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