A senior official at Ghana National Petroleum Corporation (GNPC), a partner in the project, said the $6 billion total covers all costs leading to production of oil and gas, including the initial cost of the FPSO, which will be leased.
Eni operates the Offshore Cape Three Points block, in partnership with commodities trader Vitol and GNPC.
Ghana produces around 100,000 barrels per day from the offshore Jubilee field, which also produces 120 million cubic feet of gas. It plans to start production of oil and 50 million cubic feet of gas in 2016 from the Tweneboah Enyeara and Ntomme (TEN) offshore field.
Ghana’s economy has seen sustained growth on exports of gold, oil and cocoa and 2014 GDP is projected to stand at 6.9 per cent. The government forecast last week, however, it will drop to 3.9 per cent this year, in part because of fiscal challenges.