Ghana has awarded deep-water blocks to Italy's Eni and Nigerian independent First E&P under its debut offshore licensing round, a long-awaited exercise designed to spur upstream activity.
Eni has been invited to negotiate a petroleum agreement for block WB 03, where it aims to hold a 70% operating stake with 30% reserved for Vitol.
Subject to approval by the authorities, Eni and Vitol will likely bring on board Ghana National Petroleum Corporation (GNPC) for the usual state carry and sign up a local equity partner in the final phase of contract authorisation.
