Tullow Oil has announced a new discovery of oil and gas offshore Ghana, close to the Jubilee Field.
The company said it discovered 73 metres of net hydrocarbons in the field, in which it has a 22.896 per cent stake. The well is located in the West Cape Three Points licence, outside the Jubilee unit boundary.
The well, called Teak-1, was drilled to a total depth of 3,170 metres in water depths of 868 metres. On completion of operations, the well will be suspended for future use and the rig will move to drill the Teak-2 well, which is targeting reservoirs in a separate block between Teak-1 and the Jubilee field.
Commenting on the find, 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."
Tullow’s partners in West Cape Three Points are operator Kosmos Energy and Anadarko Petroleum with 30.875 per cent each, the EO Group with 3.5 per cent, Sabre Oil & Gas with 1.854 per cent and the Ghana National Petroleum Corporation with 10 per cent carried interest.
Headquartered in London, Tullow has interests in over 85 exploration and production licences across 23 countries, focusing on the core regions of Africa, Europe, South Asia and South America.
In Africa, the company has production in Ghana, Gabon, Côte d'Ivoire, Mauritania, Congo and Equatorial Guinea, as well as two appraisal and development programmes in Ghana and Uganda.
Tullow also has exploration interests in Gabon, Côte d'Ivoire, Liberia, Sierra Leone, Mauritania, Senegal, the DRC, Tanzania, Madagascar, Namibia, Kenya and Ethiopia.
