More natural gas discovered offshore Ghana?

MILAN, Italy – Eni (NYSE: E) has discovered gas and condensate in the OCTP block, 50 km (31 mi) offshore Ghana, West Africa.

The Gye Nyame 1 well was drilled in 519 m (1,702 ft) water depth, to a TD of 3,349 m (10,987 ft). According to Eni it encountered gas and condensate sands with significant thickness and strong reservoir characteristics.

Oil mineralization was also discovered in underlying sands. The potential will be further assessed through a delineation program.

Gyne Nyame is 16 km (9.9 mi) east of Eni’s Sankofa gas discovery. The company is in discussions with the Ministry of Energy and Ghana National Petroleum Corp. about fasttracking development of Sankofa, for use in Ghana’s domestic market.

With the extra volumes from Gye Nyame, Eni says there may also be opportunities for LNG exports.

Eni Ghana Exploration and Production operates the OCTP license, in partnership with Vitol Upstream Ghana and GNPC.

Eni is also finalizing terms to farm in to the Keta block as operator. This concession is off Ghana’s eastern coast, bordering Togalese waters, where Eni acquired two exploration licenses last year.

A well was set to spud this summer at Keta, but damage during mobilization put that plan in limbo.