Ghana is set to begin gas exploration in three major points as the World Bank approved a US$700 million facility for the exploration of oil and gas offshore.
The contract of exploring the oil has been already awarded to Italy’s largest oil Company ENI Spa and it will carry out the process with their local partners in the drilling and other works.
Ghana’s minister of works Emmanuel Armah-Kofi said the government is committed and excited to see the gas exploration project kick off and this will see the country’s oil and gas industry go much higher and boost the economy .
The county took the move which is geared towards realizing its energy and power security with the signing of the agreement for the development of the offshore gas exploration at Cape Three Points in January 2015.
The US$700 Million project will be under ENI SPA in assistance with the local partners Vitol energy and the fields which are focused on are the Sankofa, Gye and Nyame.
According to the correspondents from World Bank the gas exploration project will be contract beneficiaries was awarded after a discussion was done by the management and the OCTP Project managers in June.
The terms and conditions for the project are expected to be reviewed by ENI Spa, Vitol and Ghana’s National Petroleum Corporation to see the project run smoothly and end on time.
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