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Feb 10, 2011

Ghana discovers more oil



Oil rig


The UK based Tullow Oil, the leading oil producer in Ghana has announced the discovery of more oil.

In a press statement issued by the company, it announced that its Teak-1 exploration well in the West Cape Three Points license offshore Ghana has discovered oil.

“The Teak-1 exploration well in the West Cape Three Points licence offshore Ghana has discovered approximately 73 metres of net hydrocarbons in two Campanian and three Turonian-aged reservoirs,” it says.

Tullow Oil’s Exploration Director, Angus McCoss, said “Success in all five of the targeted reservoirs, encountering 73 metres of total net pay, is an excellent outcome for the Teak-1 well and a great start to our 2011 multi-well exploration campaign in the West Cape Three Points licence.

The significant potential of this discovery, up-dip of Jubilee, will be appraised during 2011 and 2012 once the current drill-out campaign has been completed.”

The well was located 4.6 km northeast of the Mahogany-2 well, 2.7 km outside the Jubilee Unit boundary, the statement added.

Tullow and its partners, Kosmos Energy, Anadarko Petroleum, EO, and the Ghana National Petroleum Corporation (GNPC) began commercial production of oil in Ghana December 15, 2010.

Source : AA