Italian oil company Eni SpA (E) and Swiss oil trader Vitol Group have
signed a memorandum of understanding with the Ghanaian government and Ghana
National Petroleum Corp for the development and commercialization of natural
gas in the Offshore Cape Three Points Block in the Tano Basin of Ghana, the
Italian company said Tuesday.
The agreement with the African government "focuses particularly on the
domestic gas market," a Eni statement said. No figures on volumes
potentially available in the field have been provided yet by the companies
involved.
Eni holds the majority of the Ghana Block, controlling a 47.2% stake, while
Vitol holds 37.8% stake. Ghana National Petroleum Corp has the remaining 15% stake.