The Ghana National Petroleum Corporation (GNPC), in collaboration with its joint venture (JV) partners, has achieved a significant milestone in Ghana’s upstream oil and gas industry with the formal Declaration of Commerciality (DoC) for the Eban-Akoma discoveries within the Cape Three Points Block 4 (CTP-B4).
This declaration by the JV Partners signified the successful conclusion of the appraisal program in CTP-B4. The JV partnership comprises Eni Ghana Exploration & Production Ltd, Vitol Upstream Tano Ltd, Woodfields Upstream Ghana Ltd, and GNPC Exploration and Production Company Ltd (Explorco), operating under the strategic guidance of GNPC and the oversight of the Ministry of Energy and the Petroleum Commission.
The Eban-1X (oil) and Akoma-1X (gas and condensate) wells have been officially assessed as commercially viable. This assessment is a pivotal step towards unlocking new domestic energy supplies for Ghana. The JV partners are now poised to prepare a Plan of Development (PoD), which will focus on optimizing resource recovery, maximizing value creation, and fostering enhanced local content participation throughout the development phases.
Mr. Kwame Ntow Amoah, Acting Chief Executive Officer of GNPC, emphasized the strategic importance of this achievement, stating, “This important milestone proves the value of our partnerships and our commitment to driving growth in the upstream sector for national progress. GNPC’s priority remains aligned with the Government’s goal to halt the decline in oil production and boost overall output. The Eban-Akoma discoveries will contribute significantly to achieving that vision.” GNPC remains committed to close collaboration with the Ministry of Energy, the Petroleum Commission, and its JV partners to ensure the timely and efficient development of these resources, in alignment with Ghana’s long-term energy strategy.
