Eni has started production from the Integrated Oil and Gas Development Project in the Offshore Cape Three Points (OCTP) Block offshore Ghana, the company said May 20. The project was completed three months ahead of schedule in 2 ½ years.
The project includes the Sankofa Main, Sankofa East and Gye-Nyame fields, which combined have 500 million barrels of oil and about 40 billion cubic meters of non-associated gas in place.
Production will be carried out via the John Agyekum Kufuor FPSO unit, which will produce up to 85,000 barrels of oil equivalent per day through 18 underwater wells. A 63-km submarine pipeline will transport gas to Sanzule's Onshore Receiving Facilities (ORF), where it will be processed and transmitted to Ghana’s national grid, supplying about 180 million standard cubic feet per day, Eni said in the release.
With a 44.44% stake, Eni is the operator of the block. Vitol holds 35.56% interest and Ghana National Petroleum Corp. holds 20%.
Bill Marko, managing director at Jefferies, says he sees permanent changes to the U.S. shale business resulting from the destruction to oil demand over the past several months.
EagleClaw in 2018 acquired natural gas pipeline operator Caprock Midstream Holdings from Energy Spectrum Capital and Caprock Midstream Management for $950 million.
Additionally, EQT decided to temporarily curtail approximately 1.4 Bcfe/d of gross production, equivalent to roughly 1 Bcfe/d of net production.