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Italy's Eni makes 'significant' oil find with Eban well offshore Ghana

Highlights

Discovery could be fast-tracked into production due to proximity to Sankofa

Eban-Akoma complex has in-place reserves of 500-700 million boe

Offshore Sankofa field has been producing since 2017

Italian energy major Eni made a significant oil discovery in the Eban well offshore Ghana, which could be fast-tracked into production due to its close proximity to the existing Sankofa oil hub, it said on July 6.

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The Eban - 1X well is the second well drilled in Cape Three Points Block 4, following the Akoma discovery, and preliminary estimates place the potential of the Eban–Akoma complex to be between 500 and 700 million barrels of oil equivalent in place.

Eni said this find could be part of a subsea tie-in to the John Agyekum Kufuor FPSO, from where the Sankofa crude grade is exported, "with the aim to extend its production plateau and increase production."

The offshore Sankofa field currently produces around 65,000 b/d, according to S&P Global Platts estimates.

"The production testing data show a well deliverability potential estimated at 5,000 b/d, similar to the wells already in production from Sankofa Field," Eni said in a statement. "The acquired pressure and fluid data (oil density and Gas-to-Oil Ratio) and reservoir properties are consistent with the previous discovery of Akoma and nearby Sankofa field.

Ghana's CTP Block 4 is operated by Eni (42.47%), along with partners Vitol (33.97%), Ghana National Petroleum Corporation (10%), Woodfields (9.56%), GNPC Explorco. (4%)

"The estimated hydrocarbon in place between the Sankofa field and the Eban-Akoma complex is now in excess of 1.1 billion barrels of oil equivalent and further oil in place upside could be confirmed with an additional appraisal well," Eni added.

Eni has been present in Ghana since 2009, with a gross production of about 80,000 boe/d.

Unlike some of its neighbors, Ghana has come relatively late to the oil industry and only began commercial crude production at the Jubilee field in 2010.

Ghana produces about 160,000 b/d of oil, mainly from the Jubilee, TEN and Sankofa fields.