21 January 2013

Ghana: Another Major Oil Find Offshore Ghana

Italian energy company, Eni, says it is drilling operations off the coast of Ghana has confirmed commercial potential.

The company says it drilled in its Sankofa East 2A block, its first appraisal well in the Sankofa East discovery area, located about 120 miles offshore Ghana.

"Eni estimates the overall potential of the discovery to be around 450 million barrels of oil in place with recoverable resources of up to 150 million barrels," the company stated.

The company explains those results are important because it confirms the discovery is of commercial nature, adding that plans are underway for commercial exploitation of those reserves.

Eni is working in the region alongside Ghana National Petroleum Corporation, the Government of Ghana and Vitol.

The company announced a similar effort in the Sankofa East region last year encountered 250 feet of gross oil pay.

Ghana is emerging as a regional energy powerhouse. The country shipped its first delivery of oil from the giant offshore Jubilee field in January 2012.

Ads by Google

Copyright © 2013 Ghanaian Chronicle. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 2,000 reports a day from more than 130 news organizations and over 200 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.