Economy

More oil discovered

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More oil continues to be discovered in the country, with the latest coming from the Wawa-1 exploration well in the Deepwater Tano offshore. The well has found oil and gas-condensate but will be suspended for possible future use in appraisal and development operations. Wawa-1 encountered 20 metres of gas-condensate pay and 13 metres of oil pay in turbidite sands. Samples show the oil to be good quality between 38 and 44 degrees API. The well was drilled 10 kilometres north of the Enyenra-3A well, testing the previously undrilled up-dip portion of the licence. Pressure data shows that it is a separate accumulation from the TEN fields. This was contained in separate releases by operators of the Deep-Water Tano offshore, Tullow Oil and Kosmos According the oil firms, Wawa-1 was the first of three important remaining exploration wells to be drilled in the second half of the year -- to close out the exploration phase of the Deepwater Tano Licence. It is also expecting to drill off Okure and Sapele in the second-half of the year. “Commenting on the find, Angus McCoss, Tullow Exploration Director, said: "Wawa-1 found light oil and gas condensate, trapped separately from TEN, and demonstrates once again that liquid-rich hydrocarbons are pervasive in this prospective licence.” Paul Dailly, Kosmos Senior Vice President of Exploration, stated: “Success at Wawa continues the strong exploration results for our partnership offshore Ghana and extends the area of discovered resources on Deepwater Tano. “We look forward to the remainder of our meaningful 2012 exploration campaign in Ghana, which includes the Okure and Sapele prospects. At the same time, we are also preparing to spud our first operated well in Cameroon at the Sipo prospect by the end of the year, and we are aggressively pursuing significant exploration opportunities in our positions offshore Morocco, Suriname, and Mauritania.” Tullow (49.95%) operates the Deepwater Tano licence and is partnered by Kosmos Energy (18.00%), Anadarko Petroleum (18.00%), Sabre (4.05%) and the Ghana National Petroleum Corporation (GNPC) (10% carried interest).

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