Ghana: Eban-Akoma Oil Block With 700MMboe Potential Declared Commercially Viable After Successful Appraisal By Eni And Partners, GNPC

Italian oil and gas firm Eni and its joint venture partners, in collaboration with the Ghana National Petroleum Corporation (GNPC), have declared oil and gas discoveries in the Eban-Akoma wells, located within the Cape Three Points Block 4, commercially viable after a successful appraisal programme.

The appraisal confirms the commercial viability of hydrocarbons discovered in the Eban-1X(oil) and Akoma-1X(gas and condensate) wells, paving the way for the development of new domestic energy sources.

The declaration of commercial viability of the two wells was submitted by the joint venture partners to the Ministry of Energy and Green Transition on July 4, 2025, according to a statement issued on Friday by Richmond G. Rockson Esq, Spokesperson for the Ministry.

The discoveries in the Eban-Akoma wells were made by Eni and its partners in 2021.

At the time, the oil giant stated that preliminary estimates for the combined potential of the Eban-Akoma complex ranged from 500 to 700 million barrels of oil equivalent (MMboe).

Following the declaration, the joint venture partners intend to initiate the preparation of a comprehensive Plan of Development (POD), which will focus on optimal resource recovery, value maximisation, and the promotion of local content participation in line with national policy.

Commenting on the new development, Mr John Abdulai Jinapor, Minister of Energy and Green Transition, described the declaration as a clear testament to the government’s commitment to the sustainable development of Ghana’s hydrocarbon resources.

“The declaration of commerciality for the Eban-Akoma discoveries is a major boost to our oil and gas sector. It highlights the immense potential of our offshore resources to fuel economic transformation, enhance energy security, and drive Ghana’s industrialisation agenda.

“We commend the joint venture partners and GNPC for their dedication to this strategic national asset,” the Minister stated.

According to the Ministry, it is working closely with the Petroleum Commission and GNPC, and it will continue to provide the necessary oversight and support to ensure that the development of the Eban-Akoma project is conducted efficiently and in alignment with government priorities.

Further technical and commercial evaluations will be undertaken to finalise a development framework that is mutually beneficial and aligned with Ghana’s long-term energy strategy.

“This milestone underscores the government’s unwavering commitment to fostering a transparent, investor-friendly and resilient energy sector that delivers long-term value for the Ghanaian people,” Richmond Rockson Esq. said.

Source: https://energynewsafrica.com