President Mahama, Eni CEO discuss Ghana’s energy sector and future investments

President John Dramani Mahama has held discussions with Claudio Descalzi, Chief Executive Officer (CEO) of Italian energy giant Eni, on the company’s operations in Ghana and its impact on the country’s energy sector.

The meeting, held in Accra, focused on Eni’s Offshore Cape Three Points (OCTP) project and the company’s broader plans for economic diversification. Eni has been operating in Ghana since 2009 and holds a 44.4% stake in the OCTP project, alongside Vitol (35.6%) and the Ghana National Petroleum Corporation (GNPC), which holds 20%.

Mr Descalzi highlighted the achievements of the OCTP project, describing it as the largest private investment in Ghana’s energy sector. He noted that the project was completed ahead of schedule and under budget, with the first oil produced in 2017 and the first gas in 2018.

He emphasized that gas from OCTP is dedicated entirely to Ghana’s domestic market, contributing approximately 70% of the country’s total gas production and providing a stable energy source for internal consumption.

ADVERTISEMENT

The Eni CEO also briefed President Mahama on new short and medium-term opportunities in exploration and development, which could further strengthen Ghana’s energy security and economic growth.

OCTP Project

The Offshore Cape Three Points (OCTP) project is an integrated oil and gas development initiative designed to support Ghana’s energy needs. The project includes the Sankofa and Gye Nyame fields, where natural gas is produced exclusively for Sub-Saharan Africa. Its infrastructure features subsea wells and systems connected to the John Agyekum Kufuor Floating Production Storage and Offloading (FPSO) vessel.