403
Sorry!!
Error! We're sorry, but the page you were looking for doesn't exist.
Ghana signs USD6b deal with Italian Eni
(MENAFN) Officials said that Ghana agreed on a bid from Italian oil giant Eni to develop its offshore oil and gas resources as part of efforts to boost the west African nation's energy sector, AFP reported.
Under the USD6 billion deal, commercial production of oil and gas is expected to start by mid-2017 to expand the country's current production capacity, the energy ministry said in a statement.
Ghana, which began oil production in 2010, has struggled to hit its production targets so far and has faced challenges in attracting foreign investment to fully develop its oil and gas resources.
The country currently produces around 100,000 barrels per day, far below nearby Nigeria, which churns out about 2 million, but enough to provide a significant revenue boost in the nation of some 25 million people.
Under the USD6 billion deal, commercial production of oil and gas is expected to start by mid-2017 to expand the country's current production capacity, the energy ministry said in a statement.
Ghana, which began oil production in 2010, has struggled to hit its production targets so far and has faced challenges in attracting foreign investment to fully develop its oil and gas resources.
The country currently produces around 100,000 barrels per day, far below nearby Nigeria, which churns out about 2 million, but enough to provide a significant revenue boost in the nation of some 25 million people.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept any
responsibility or liability for the accuracy, content, images, videos,
licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright issues
related to this article, kindly contact the provider above.
Comments
No comment