General News of Wednesday, 13 April 2011

Source: SHARECAST

Tullow finds more gas in Ghana

Oil and gas firm Tullow Oil has had more success off the coast of Ghana, with the Tweneboa-4 appraisal well in the Deepwater Tano licence encountering gas condensate.

The well encountered 18 metres of net gas condensate pay in high quality stacked reservoir sandstones which are in static pressure communication with both the Tweneboa-1 and Tweneboa-2 wells.

Tullow is the operator of the Deepwater Tano licence and has a 49.95% stake in the project.

Tullow added that it has reactivated the exploration and appraisal campaign in Uganda after farming out some interests to global oil companies CNOOC and Total. Drilling on two wells in Exploration Area 1 is expected to start within the next two weeks. The OGEC 600 rig is preparing to start drilling on the high-impact Jobi-East prospect and the OGEC 750 rig is getting ready to drill the first Mpyo exploratory appraisal well to test its upside potential.

These wells are the start of a major programme of exploration and appraisal drilling, seismic acquisition, and well testing to access the significant remaining upside potential in the basin and further expand the resource base for development.

The company expects to have a five-rig drill-out campaign on the go in the second half of this year.

"Tweneboa-4 is an important milestone as it is the final well to be drilled in the Tweneboa appraisal programme. The upcoming programme of well testing in the Tweneboa field, along with drilling and well testing in the Enyenra field, will provide essential information on well deliverability, dynamic reservoir connectivity and hydrocarbon volumes, which will be used to optimise our development plans for these major fields,” said Tullow's exploration director, Angus McCoss.