The OCTP project aims to tap 131 million barrels of oil and 1.15 trillion cubic feet of gas in two phases, with first oil set to flow this month before ramping up to 80,000 barrels per day, and gas to flow in February 2018 at a rate of 171 million cubic feet per day.

Last week’s agreement closed out the terms and conditions for financing the project by Eni and Vitol and for the sale of their share of gas produced.

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