In 2005, Saltpond Offshore Producing Ltd (SOPL), which is owned by the U.S.-registered Lushann-Eternit (60 percent) and the state-owned Ghanaian National Petroleum Company (GNPC) (40 percent), signed a $5 million redevelopment project that will restart six wells on the Saltpond Oil and Natural Gas field. SOPL hopes the additional wells will increase production from the current 500 bbl/d to 1,500 bbl/d. The former Operator of Saltpond field, Agripetco, had shut the field down in 1985 due to decreasing output. Scottish-based Dana Petroleum is currently analyzing exploration targets in the deepwater section of its West Tano Block. The company previously drilled two successful test wells, WT-1X and WT-2X on Tano field, and made estimates that the field contained oil reserves of 200 million barrels. However, Dana Petroleum indicated that only a small amount of the oil would be recoverable due to geological reasons. Dana Petroleum operates the block with 90 percent interest and is joined with GNPC (10 percent). In 2002, Oklahoma-based Devon Energy and Canadian independent EnCana entered into an agreement with the GNPC to explore for Hydrocarbons offshore of southeastern Ghana in the Keta Basin. The companies are currently analyzing seismic data on the Keta Block. Devon has been active in Ghana since 1997 when it acquired the Keta concession. Houston-based Vanco Energy also signed an exploration agreement with the Ghanaian government in August 2002. In May 2005, Vanco Energy completed 3D seismic research on its Cape Three Points Deepwater Block, and the company plans to drill its first exploration Well on the block in 2006. Finally, Dallas-based, Kosmos Energy signed a seven-year oil exploration agreement with Ghana. Kosmos will search for oil in the Tano Basin, adjacent to Vanco Energys Cape Three Points Deepwater Block. Kosmos is operator of the West Cape Three Points License with 86.5 percent interest and is joined with GNPC (10 percent) and E.O. Group (3.5 percent).