Tullow’s Ghana find a positive sign

TULLOW OIL, the explorer with the most licences in Africa, and Interoil Exploration & Production found oil and natural gas at Ghana’s Tano Block, boosting prospects for oil recovery at the nearby Tweneboa field.

The Ebony-1 shallow-water well found a 4-meter (13-foot) layer of oil at a depth of 2,053 meters and a 2-meter layer of gas condensates at 2,570 meters, Lysaker.

The deeper gas condensate layer may be linked to the deep-water Tweneboa oil deposit, “a big prospect” that Tullow plans to drill in January, Ian Springett, chief financial officer of the London-based company said.

“The gas condensate has very high pressure” at the bottom of the well, where it is “definitely worth a lot of money”, Springett said, adding that the top oil layer may not be commercially viable.