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Apr 4, 2011

More Crude Oil Found


 

More deposits of crude oil and gas have been found by the Jubilee Partners in their Teak-2 exploration well at West Cape Three Points offshore Ghana.

 

The discovery follows appraisal works at its Teak-2 well, a major oil field away from the Jubilee Field. The new deposit is also different from Teak-1 and what was discovered in Deepwater Tano about a month ago.

 According to a Deputy Minister of Energy, Mr. Emmanuel Armah Kofi Buah, who made this known to the Daily Graphic in Takoradi, the Government, through the Ghana National Petroleum Corporation (GNPC) has an interest of 10 per cent in the current discovery, while Tullow Oil had a 22,896 per cent interest.

 Other partners, such as Kosmos Energy, the operator, and Anadarko Petroleum Corporation have 30,875 per cent each, the E. O. Group, 3.5 per cent, and Sabre Oil & Gas Holdings Ltd, 1,854 per cent.

 Mr. Buah said after the discovery, it is now time for appraisal to be carried out to determine the volume of the oil and gas and expressed the hope that at the end of the appraisals the country would receive good news.

 In a press release, the Jubilee Partners said the Teak-2 well was targeting an undrilled fault block between the Jubilee Field and Teak-1 discovery, located 1.8 km southwest of the recent Teak-1 well and 3.5 km northeast of the Mahogany-2 well.

 Results of drilling, wire line logs and samples of reservoir fluids confirmed that the well had intersected five intervals containing high quality oil, gas and gas condensate, the release stated.

 Commenting on the discovery, the Exploration Director of Tullow Oil, Angus McCoss said, “The discovery of hydrocarbons at the Teak-2 location is a very good result, providing important data for the future development of the Jubilee Field. The well demonstrated that the Teak-2 discovery is not part of the Teak-1 discovery but is potentially a Jubilee Field gas cap”.

 Six metres of net oil and gas pay was encountered at the top of good quality Campanian reservoirs, over 100 metres thick, the release stated.

 Source: The Daily Graphic