Ghana, Eni Sign Landmark Energy Deal

Italian multinational energy company,Eni, together with its Offshore Cape Three Points (OCTP) project partners, Vitol and the Ghana National Petroleum Corporation (GNPC) has signed a Memorandum of Intent (MoI) with the Government of Ghana to increase the country’s oil and gas production capacity and advance sustainable energy initiatives.

The signing ceremony, held in Accra and witnessed by President John Dramani Mahama, the Minister of Energy and Green Transition John Jinapor, and the Minister of Finance Cassiel Ato Forson, marks a major milestone for Ghana’s energy sector.

This report is based on a press release issued by Eni and its partners, which was copied to The Chronicle.
A Comprehensive Investment Plan for Energy Expansion
The MoI outlines a framework to develop a comprehensive and integrated investment plan aimed at delivering reliable, affordable and environmentally responsible energy to meet Ghana’s expanding domestic demand.

This partnership seeks to leverage the combined strengths of Eni, Vitol and GNPC, alongside government support, to create a sustainable energy future that aligns with national development objectives.
Central to the plan is the proposed expansion of production capacity at the Offshore Cape Three Points project.

By optimising synergies between offshore hydrocarbon extraction and onshore infrastructure upgrades, the initiative is expected to significantly boost Ghana’s oil and gas output, enabling the country to better meet its growing power generation and industrial fuel requirements.

Unlocking New Reserves: The Eban-Akoma Field
An exciting aspect of the partnership involves exploring and potentially developing the Eban-Akoma field in Cape Three Points Block 4.

This field was declared commercially viable in July 2025 and is poised to become a key contributor to Ghana’s oil and gas supply.

Leveraging existing infrastructure will allow for an accelerated timeline to market, reducing costs and maximizing economic benefits.
“This agreement underscores our commitment to harnessing Ghana’s natural resources responsibly and efficiently,” said an Eni spokesperson.

“We are excited about the potential of the Eban-Akoma field and the broader opportunities to expand the OCTP project, contributing meaningfully to Ghana’s energy transition,” he added.
Strong Social Commitment and Community Development
Eni and its partners have demonstrated a robust social responsibility agenda. To date, they have invested over USD 10 million in social development programs benefiting more than 10,000 residents in communities surrounding the project areas.

Key focus areas include education, access to clean water, healthcare and hygiene initiatives, and bolstering local economic activities.
With the launch of a second phase, the partnership will introduce new programs aimed at supporting micro, small, and medium-sized enterprises (MSMEs), empowering local entrepreneurs and fostering inclusive economic growth.

These initiatives complement the government’s broader agenda for community development and poverty alleviation.
Long-standing Presence and Proven Impact
Eni has been active in Ghana since 2009, primarily focusing on offshore hydrocarbon exploration and production.

The company holds a 44.4% equity stake in the OCTP project, in partnership with Vitol (35.6%) and GNPC (20%). Since production began in 2018, the OCTP project has delivered over 107 million barrels of oil and 480 billion standard cubic feet (Bscf) of gas.
The gas produced from OCTP supplies approximately 70% of Ghana’s demand for power generation, playing a critical role in ensuring energy security and supporting the country’s industrialization efforts.
Beyond energy production, the joint venture actively invests in initiatives promoting training, economic diversification, access to water and sanitation, and expanded energy access—underscoring a holistic approach to development.
As Ghana continues to position itself as a regional energy hub in West Africa, this strategic partnership with Eni and its partners is expected to accelerate the country’s progress toward energy independence and economic prosperity, while balancing environmental and social considerations.
Eni, a global energy leader headquartered in Italy, specialises in oil and gas exploration, production, and sustainable energy solutions. The OCTP project is one of Ghana’s flagship offshore hydrocarbon initiatives, instrumental in boosting the country’s energy capacity since 2018.

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