Tuesday, 7 June 2011

Hess discovery offshore Ghana

Hess has found oil and gas at its Paradise-1 exploration well offshore Ghana. The well is located at the Deepwater Tano Cape Three Points (DTCTP) license. Speaking about the new discovery, the company said it had “encountered an estimated 490 net feet of oil and gas condensate pay over three separate intervals.”

In April, when Hess disclosed interim results for the discovery, the company said it had found 370 net feet of hydrocarbon-laden sands. The well was drilled to a total depth of 16,436 feet in a water depth of 6,038 feet.

Hess is going to co-operate with the Ghana National Petroleum Corporation (GNPC) and the government to plan future appraisal drilling. Hess owns 90 per cent of the Paradise prospect, the remaining 10 per cent belongs to GNPC.

Sources: Ghana Business News, Reuters, Market Watch

For more news and expert analysis about Ghana, please see Ghana Politics & Security.

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