ACCRA, Nov 10 (Reuters) – Ghana has made its first hydrocarbon discovery in a carbonate reservoir system, opening new possibilities for future exploration, President John Dramani Mahama said on Tuesday.
• Speaking at a conference in the Western Region, Mahama said the find in the Deepwater Cape Three Points block, located around 148 kilometres (92 miles) offshore Ghana, had proved a new type of geological target for the country beyond oil- and gas-bearing sandstone reservoirs
• “It is the country’s first successful test of a Cenomanian-Turonian carbonate play as a primary exploration target,” he said, referring to the geological potential
• Planet One Oil & Gas, which operates the block covering about 1,454 square km with GOIL Upstream Ltd and state oil company Ghana National Petroleum Corporation, said in a release on Tuesday that hydrocarbons were found at its Nya Gyidie-1X exploration well
• Nya Gyidie-1X, which means “have faith” in the local Akan language, was drilled in water depths of 2,289 metres (7,510 feet), the company said
• It was not immediately clear whether the discovery was oil or gas, and no volume estimates were given
• “Further evaluation is under way to determine the scale of the discovery and the appropriate development approach,” Andaleeb Sehgal, Planet One’s chief executive, said in response to questions from Reuters
• Sehgal said the company has the expertise needed for deepwater development and is committed to further onshore and offshore exploration drilling over the next 12 to 18 months
• Energy Minister John Jinapor said in the release that the find was a significant milestone in efforts to revitalise the upstream sector and attract investment
• Ghana’s existing commercial discoveries have been in sandstone formations
• In June, Mahama announced $3.5 billion in new upstream investment commitments as the government seeks to replace reserves and boost output
(Reporting by Emmanuel Bruce; Editing by Anait Miridzhanian and Jonathan Spicer )
Comments