The company is also conducting a feasibility study on a floating photovoltaic plant in the Volta basin.

A statement issued by the company in Accra said the two projects were in line with the government’s target to achieve 10 per cent of renewable energy in the power generation mix by 2020, as well as ENI’s vision to integrate its traditional business with energy from renewable sources.

The statement comes after President Nana Addo Dankwa Akufo-Addo met with the Chief Executive of ENI, Mr Claudio Descalzi, last Friday to discuss ENI’s activities in the country.

The Daily Graphic’s checks indicate that ENI and the Savannah Accelerated Development Authority (SADA) signed a memorandum of understanding (MoU) in November last year to increase the country’s energy supply.

While SADA has allocated lands for the project, ENI is holding discussions with regulators in the energy sector, including Bui Power, Volta River Authority and the Ghana Grid Company.

The project was originally set to commence in the third quarter of 2017 but had to be put on hold with the current restructuring of SADA to be known as the Northern Development Authority.

Ahead of schedule

“ENI has launched production from the Integrated Oil and Gas Development Project in the Offshore Cape Three Points (OCTP) bloc, off Ghana’s western coast, with a record time-to-market of only 29 months, and three months ahead of schedule,” the statement said.

It added that: “The accelerated ramp-up allowed increasing the expected production of 2017 to 5.2 million barrels from the 2.8 million barrels initially expected, and production will reach the oil plateau of 45,000 barrels of oil per day by end of 2017.”

It observed that the OCTP development project was a concrete example of ENI’s “dual flag” approach.

“The contribution to local economy is measured by 48 per cent of contracts being awarded to local companies, about 2,300 Ghanaians employed in the different projects and operational activities, and about $1.3 million destined to scholarships and training activities every year,” it said.

Domestic gas

The Integrated Oil and Gas Development Project is the only deep-water non-associated gas development in Sub-Saharan Africa entirely dedicated to domestic gas, and will grant Ghana over 15 years of reliable gas supply at a competitive price, thus giving a substantial contribution to energy access and the economic development of the country.

Construction works on the onshore receiving facility and of the pipelines are proceeding as planned, with 63 per cent progress and production start-up expected in 2018.

The gas produced by OCTP will allow the country to generate a minimum of 900MW, which might, in the future, increase to 1500 MW, ENI said.

The statement said the company was also engaged in corporate social responsibility as it pursued a number of projects to improve the living conditions of vulnerable groups in the Western Region.

With an investment of about $10m, it said the  initiatives were defined jointly with the local communities and included direct help, training activities projects to develop agriculture, livestock and fisheries and in particular coconut oil development, potable water, sanitation and waste management, the development of the Sanzule market, the upgrade of local schools and vocational training.

“In order to improve accessibility to maternal and child health services, ENI Foundation invested over $8 million in the Western Region, to the benefit of about 380,000 women and children,” it added.