Tullow makes major oil find

TULLOW Oil has branded its Owo well, off the coast of Ghana, as forming part of “a major new oil field” following another significant find in the area.

Two months ago, the Irish-founded exploration company announced the discovery of “a significant column of excellent quality light oil” at its Owo-1 well, which is located approximately six kilometres from its existing Tweneboa field, and forms part of the Deepwater Tano licence (of which Tullow controls just under 50%).

A subsequent enlargement of the appraisal drilling area, around Owo, has now encountered another 16 metres of net oil pay, atop the initial 53 metre find.