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24.03.2009 Business & Finance

GNPC announces discovery of more oil

By gna
GNPC announces discovery of more oil

The Ghana National Petroleum Corporation (GNPC), announced on Tuesday that the Tweneboa-1 oil well offshore the Tano Basin, which has a significant discovery of oil and gas, has encountered more oil after the well was deepened.

A statement signed by Mr M. O. Boateng, Managing Director of GNPC, said the Tweneboa-1 well was deepened from 3,593 metres to 3,939 metres during which it encountered 4 metres of highly-pressured oil bearing interval.

It said the Corporation and its partners would conduct the relevant evaluations to determine the size of the discovery.

The statement said an appraisal programme would soon be submitted to the Minister for Energy in accordance with the provisions of the Petroleum Agreement.

GNPC's partners are Tullow Oil, Kosmos Energy and Anadarko Petroleum.

The statement said the results of wireline logs, pressure measurements and sampling showed that the encountered oil of 26 degrees API was independent of the shallower accumulation announced on March 8, 2009.

“The oil from this accumulation appears to be heavier than the one that was encountered earlier on, meaning that they are different pools,” GNPC said.

GNA

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