Eni, Partners Launch New Drilling Campaign
Ghana’s upstream oil and gas sector is showing renewed momentum after years of declining output and stagnation in drilling activities. Italian energy giant Eni, alongside its OCTP partners Vitol and the Ghana National Petroleum Corporation (GNPC) has commenced a new drilling campaign at the Sankofa East 1X Side Track 2 well, located about 60 nautical miles off Ghana’s coast near the John Agyekum Kufuor FPSO.
The new drilling initiative forms part of an expanded development strategy for the Sankofa field under the Offshore Cape Three Points (OCTP) project. It utilizes the Deep Value Driller (DVD), a cutting-edge, automated drillship, reflecting the consortium’s drive to enhance efficiency and boost oil recovery using advanced technology.
This effort comes at a critical time for Ghana’s petroleum sector, which has faced a consistent decline in crude oil output. According to the Public Interest and Accountability Committee (PIAC), production dropped for the fifth straight year in 2024, falling to 48.25 million barrels—down from 71.44 million barrels in 2019. PIAC attributes this decline to maturing oil fields, inadequate investment in exploration and production, and persistent operational challenges. The Committee has recommended a diversified approach that balances petroleum resource management with renewable energy expansion and broader economic development.
Despite various efforts by the Ministry of Energy, Ghana has not signed any new Petroleum Agreements since 2018—an issue that has raised concerns over the attractiveness of the country’s upstream sector. The new drilling campaign, however, signals a shift, suggesting a return of investor confidence and a proactive attempt to reverse the production downturn.
Ahead of the drilling operations, Eni and its partners undertook stakeholder engagement programs along Ghana’s coastal communities. Involving over 800 local fishermen and community leaders, the initiatives were coordinated in collaboration with regulatory and sector institutions, including the Environmental Protection Agency, Ghana Maritime Authority, Petroleum Commission, Ghana Navy, Fisheries Commission, and the Ghana National Canoe Fishermen Council. These efforts highlight the partners’ commitment to inclusive development and transparent community relations.
Eni, which has operated in Ghana since 2009, currently delivers about 34,000 barrels of oil equivalent per day from its equity share. It holds a 44.4% stake in the OCTP project, with Vitol owning 35.6% and GNPC holding 20%. Beyond its core oil activities, the partnership supports broader socio-economic initiatives such as training, access to clean water and energy, and local economic development—aligning petroleum extraction with national growth priorities.
