Italian oil and gas company Eni has announced a gas and condensate discovery in CTP-Block 4, offshore Ghana. The area has proven resources between 550 bcf and 650 bcf (15.6 bcm and 18.4 bcm) of gas and 18 mbl to 20 mbl of condensate. The discovery is located close to existing infrastructures, which could ease commercialisation.
Oil and gas resources are located on Ghana's south-west coast and are divided into three basins: Tano (South Tano, 3-AX block, North Tano and West Tano-1 fields), Cape Three Points and Saltpond. In 2010, as a result of discoveries on the Jubilee field, there was a sharp upward re-evaluation of proven oil reserves, which are now evaluated at 18.5 mbl (end of 2018): they should continue to grow at a rapid pace as the appraisal of the Jubilee and West Cape Three Points prospects continues.
The Joint Venture of CTP-Block 4 is formed by operator Eni Ghana (42.469%), Vitol Upstream Tano (33.975%), Ghana National Petroleum Corporation (GNPC) (10%), Woodfields Upstream (9,556%), Explorco (4%).