Tullow Oil has today announced a key new oil discovery in its Owo-1 exploration sidetrack in the Deepwater Tano licence offshore Ghana which confirms that its Owo well is now a "major new oil field."
Tullow said that the sidetrack showed a "very substantial" 200 metre gross oil column in the heart of the Owo oil field, with new condensate and gas accumulations below.
Tullow operates the Deepwater Tano licence and holds a 49.95 per cent stake, with Kosmos Energy Ghana holding 18 per cent, Anadarko Petroleum 18 per cent, Sabre Oil & Gas 4.05 per cent and the Ghana National Petroleum Corporation (GNPC) a 10 per cent carried interest.
Following completion of logging operations, the well will be suspended for future use in appraisal and development, Tullow said. The rig will remain in the Deepwater Tano block, however, to drill the Onyina-1 exploration well, which targets a large Campanian prospect between the Tweneboa and Jubilee fields.
Commenting on the find, exploration director Angus McCoss said:“The discovery of very material volumes of light oil in Owo and the fact that the oil is concentrated in high quality channel sands greatly enhances our outlook for the efficient future development of both the Owo and Tweneboa fields.”
Headquartered in London, UK, Tullow has interests in over 85 exploration and production licences across 22 countries and focuses on four core areas: Africa, Europe, South Asia and South America.
In Africa, Tullow has production in Gabon, Côte d'Ivoire, Mauritania, Congo (Brazzaville) and Equatorial Guinea, as well as two appraisal and development programmes in Ghana and Uganda. It also has exploration interests in Gabon, Côte d'Ivoire, Liberia, Sierra Leone, Mauritania, Kenya, Ethiopia, Senegal, Congo (DRC), Tanzania, Madagascar, Namibia and Angola.
In Europe, Tullow primarily focuses on gas in the UK southern North Sea, where it has interests in the Caister-Murdoch System and the Thames area. The company also has interests offshore the Netherlands.
In South Asia, Tullow has exploration and production in Pakistan and Bangladesh; and in South America, it has exploration interests in Guyana, French Guiana and Suriname.
