As Ghana seeks to increase oil output to 500,000 barrels per day in the next 10 years, Hess Corp. (HES), who has joined the nation’s project pipeline, will drill a third appraisal well later this year on the Deepwater Tano/Cape Three Points block.
This will help establish commercial viability and reserves, Director of Special Services at the Petroleum Commission, Kwaku Boateng opined.
The results on the first two wells were “fantastic,” he said. Patrick Scanlan, a spokesman for Hess at Sard Verbinnen & Co. in New York, had no immediate comment when asked about the two wells yesterday.
Ghana is aiming to increase oil output as projects including Tullow Oil Plc’s TEN and Eni SpA’s Sankofa-Gye Nyame start production. Tullow operates the Jubilee field which will produce an average of about 100,000 barrels a day this year, according to a July 30 statement.
“We have to wait for the final report but from the numbers that we are seeing we are expecting that Ghana gets its fourth development from Hess,” Boateng stated.
The TEN, or Tweneboa-Enyenra-Ntomme, and Sankofa-Gye Nyame fields are expected to be developed within the next three years, with combined daily output of about 130,000 barrels, Boateng said.
Both fields will also produce natural gas.
Business World (with notes from Bloomberg)