Tullow makes second oil discovery in Ghana

TULLOW Oil has made a second potentially large-scale oil and gas discovery in Ghana, which could come close to rivalling its nearby Jubilee field, in terms of production levels.

Results from the latest appraisal study on the Tweneboa-2 well – which was initially discovered by Tullow and its partner on the project, the Dallas-based Kosmos Energy – was described by the Irish-founded company as being “a bold step-out which has successfully proven the significant extent of a major new oil and gas-condensate field offshore Ghana”.

While further appraisal work on the Tweneboa site is due, estimates already have it that the find could yield anywhere between 250 million and 1.4 billion barrels of oil equivalent. Tullow’s chief asset, the Jubilee field – also situated off the Ghana coast – is thought to house between 1.2bn and 1.8bn barrels of oil. Where Jubilee mostly comprises oil, it is understood that Tweneboa is made up of around 60% oil and 40% gas. Tullow owns 34% of the Jubilee field, while it has a 49.5% stake in Tweneboa.