EXPLORATION FIRM Tullow Oil said yesterday that a discovery had been made at a well in Ghana in which it has a 22.8 per cent stake.
The Odum-2 appraisal well in offshore Ghana showed net hydrocarbon-bearing pay of 20 metres. The discovery was confirmed by Kosmos Energy, which operates the well and owns a 30.8 per cent stake. The well is about 4km northeast of the Odum-1 well, which lies approximately 18km east of Kosmos’ Mahogany-1 exploration well and the Jubilee oil field.
“We are pleased that we have successfully confirmed the second of our four oil and gas discoveries to date offshore Ghana,” said Kosmos chief operating officer Brian Maxted.
“The Odum-2 well validates the upside potential of the Campanian play on the West Cape Three Points Block, which has been determined to be separate from the Jubilee Field play. We will continue to evaluate the well’s results.”
Separately, it emerged yesterday that Ghana is planning to update its laws governing the petroleum industry by the middle of next year, Attorney-General Betty Mould-Iddrisu said.
Legislation written in the 1980s needs to be revised to ensure the “maximisation of the country’s revenue” from the fledgling industry, she said. – (Reuters)
