On July 6, Italian oil company, Eni SpA, revealed that it may have discovered up to 700 million barrels of oil equivalent in place off the coast of Ghana at the Eban exploration area. According to the company, the estimated hydrocarbon between the Sankofa field and the Eban-Akoma complex has increased to more than 1.1 billion barrels of oil equivalent, although appraisal drilling could reveal the upside.

Ghana’s petroleum reserves are estimated to be between 5 and 7 billion barrels, making it Africa’s sixth largest and the world’s 25th largest proven reserves. Ghana’s natural gas reserves are estimated to be between 6 and 7 trillion cubic feet.

The Eban-1X well is located about 8 kilometers northwest of the Sankofa Hub in CTP Block 4 of the Eban-Akoma complex. The well, drilled by the ultra-deep-water drillship Saipem 10000, struck hydrocarbons at a depth of 3,949 meters. Eni SpA announced that the new discovery was thoroughly analyzed after an in-depth investigation of vast 3D seismic datasets and well data collecting, which included pressure measurements, fluid sampling, and intelligent formation testing using cutting-edge technologies.

“The collected pressure and fluid data (oil density and Gas-to-Oil Ratio) and reservoir parameters are compatible with the prior Akoma and neighboring Sankofa field discoveries” asserted Eni.

Based on production testing data, the deliverability potential is projected to be 5,000 bbl/d, however, because of the discovery’s proximity to the John Agyekum Kufuor FPSO and existing infrastructure, Eni is certain it can be brought to production quickly with a subsea tie-in to the FPSO.

It is believed that the Eban discovery demonstrates the success of Eni’s global infrastructure-led exploitation strategy. The Italian oil company would be the second well drilled in CTP Block 4 and precedes the discovery of Akoma gas and condensate.

With a 42.469% ownership, Eni is the block’s operator and partners with Vitol (33.975%), Ghana National Petroleum Corporation (10%), Woodfields Upstream (9.556%), and GNPC Explorco as partners (4%).

Among the various oilfields in Ghana, the Jubilee Oilfield which was discovered in 2007, contains up to 3 billion barrels of sweet crude oil. Exploration for oil and gas in Ghana is ongoing, and the amount of crude oil and natural gas produced continues to rise.