Vitol Sankofa

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The Offshore Cape Three Points (“OCTP”) block is a large deepwater block located 55 to 60 km offshore in the Western Region of Ghana, with estimated discovered reserves of 132 million barrels of oil and 1,079 billion cubic feet of gas. The block contains the Sankofa and Gye Nyame gas fields and the Sankofa East oil field. The OCTP project (“the project”) will be developed by a joint venture (“JV”), composed of Eni Ghana Exploration and Production Limited (“Eni Ghana”), the operator of the block holding 44.4% participating interest, Vitol Upstream Ghana Limited (“Vitol Ghana”) holding 35.6% participating interest, and Ghana National Petroleum Corporation (“GNPC”) holding 20% participating carried interest.The project encompasses (i) the development of the Sankofa East oil field, with first oil production planned for 2017; and (ii) the development of non-associated gas in the Sankofa and Gye Nyame fields, with first gas production planned for 2018.