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The contract is part of Sonatrach’s 2026–2030 investment plan, which totals $60 billion. About 75% of that amount is allocated to exploration and production.

The project will include a new floating production, storage, and offloading unit, extending the fast-track development model used in the field’s first two phases. Eni said all gas from the project will be supplied to the domestic market, supporting power generation and industrial demand in Côte d’Ivoire.

Gross profit, however, held up relatively well, edging up slightly to GH¢228 million from GH¢226.4 million, reflecting improved margins despite the steep drop in turnover.

The exploration targets areas in ⁠tieback distance to the ​Appomattox platform in the gulf, INEOS ​said in a statement.

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Øyvind Eriksen, President and CEO of Aker ASA said: “Aker still believes in the resource potential of the DWT/CTP block in Ghana. AFC is already invested in this field development and is well-positioned to continue this development.

Whilst bringing these fields to production as quickly as possible, President Akufo-Addo urged that Ghana and Guyana must balance carefully social, economic and environmental benefits of these hydrocarbon resources in a continuously changing world.

Eni has set ambitious targets to slash planet-warming emissions to net-zero by 2050 while rapidly expanding its renewable power generation and biofuel capacity.

Interestingly, Parliament itself only approved US$1.1 billion in borrowing for the acquisition by GNPC, suggesting it believes the amount originally requested is an overvaluation, but a dispute still remains as to by how much.