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Tullow makes another significant oil find in Ghana

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Tullow Oil has announced another significant oil discovery in Ghana. In a press release copied to ghanabusinessnews.com Monday July 26, 2010, the major stakeholder in Ghana’s oil sector says “Owo-1 exploration well in the Deepwater Tano licence offshore Ghana has intersected a significant column of excellent quality light oil. Results of drilling, wireline logs and samples of reservoir fluids have established Owo as a major new oil field requiring further appraisal.”

According to the release, the deviated well, located  approximately 6km to the west of the Tweneboa wells, has encountered a gross vertical reservoir interval of 154 metres containing 53 metres of net oil pay in two zones of high quality stacked reservoir sandstones.

Following completion of logging operations the well will be sidetracked 0.6km east to provide additional information on lateral reservoir distribution and to intersect a deeper part of the Owo channel system.

“This is a high value discovery. Oil quality here and reservoir quality is similar to Jubilee. It has come in with very highly pressured reservoirs,” Tullow’s exploration director Angus McCoss has told the Dow Jones news service.

The Owo-1 find is also reported to potentially add another one billion barrels of oil equivalent to the resource estimate for the area. Owo becomes the second major oil discovery made by Tullow in Ghana.

Following the announcement of this find, Tullow Oil’s shares rose on the London Stock Exchange.

Tullow is the major stakeholder in Ghana’s biggest oil field Jubilee. Commercial production of oil in the field said to hold an estimated 1.5 billion barrels of oil is expected to start in November.

By Emmanuel K. Dogbevi


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One comment

  1. We thank God for what he is doing for the Nation Ghana. I pray that the income from the oil would be to the benefit of all Ghanaians and not a handfull of some criminals who are going to siphon the money into private accounts abroad.

    I pray that those who would attempt to steal or squander the income would be exposed and that God would deal ruthlessly with them and their families. There is too much poverty in Ghana and I believe God wants to end our suffering. Let us all enjoy the blessings of the Lord. Let us give our young ones (our future leaders) something to build on. Lets create jobs to entice them so that they can give back something to the nation after the completion of their education. Too many qualified Ghanaians are wasting away in other nations. Let us use them to build oue beautiful nation.

    May God bless our leaders and grant them wisdom to rule, Amen.

    From Amazing Grace.