Italian energy company, Eni, says it is drilling operations off the coast of Ghana has confirmed commercial potential.
The company says it drilled in its Sankofa East 2A block, its first appraisal well in the Sankofa East discovery area, located about 120 miles offshore Ghana.
"Eni estimates the overall potential of the discovery to be around 450 million barrels of oil in place with recoverable resources of up to 150 million barrels," the company stated.
The company explains those results are important because it confirms the discovery is of commercial nature, adding that plans are underway for commercial exploitation of those reserves.
Eni is working in the region alongside Ghana National Petroleum Corporation, the Government of Ghana and Vitol.
The company announced a similar effort in the Sankofa East region last year encountered 250 feet of gross oil pay.
Ghana is emerging as a regional energy powerhouse. The country shipped its first delivery of oil from the giant offshore Jubilee field in January 2012.