Vitol announces discovery offshore Ghana

Oil trader Vitol Holdings has announced that along with its partners the group discovered oil and gas reserves offshore Ghana.
The Sankofa-A1 well, drilled at Cape Three Points Block on Ghana's offshore by Ghana National Petroleum Corporation, GNPC, in conjunction with Vitol Upstream Ghana and discovered a net hydrocarbon column of approx. 36.3 metres. It comprised 33.1 metres of gas and 3.2 metres of oil in reservoir sands of Campanian age.

A statement issued in Accra by the GNPC said, "The success of this well confirms the prospects of these Upper Cretaceous reservoir sands in the Tano/Cape Three Points Basin blocks offshore Western Ghana where the Jubilee field was discovered and is being developed."
The Sankofa-1A well is located 38 km east of the Jubilee field and 21 km east of the Odum discovery in the West Cape Three Points Block. Drilling at the well has been suspended for possible re-entry, although the target reservoir was successfully cored and a full wireline logging programme was also ran.

The statement said the well was drilled with the Blackford Dolphin Semi-Submersible drilling rig in water depths of 866 metres and reached a total depth of 3,704 metres MD (3,674 metres TVDSS). The Vitol Block covers a total area of 2,080 sq km in water depths ranging from 50 metres to 1,400 metres.
This is the first exploration well to be drilled during the first phase (three years) of the three-phased seven-year exploration period provided under the Petroleum Agreement entered into with the Government of Ghana and GNPC in 2006. Vitol has 90 % interest in the block while GNPC has 10 % carried interest. GNPC has the option of acquiring an additional 10 % paying interest on commercial discovery. It also operates the offshore Cape Three Points South Block.

Nana Boakye Asafu-Adjaye, the GNPC Managing Director said, "This discovery marks another milestone in the effort that GNPC has been making over the years to establish Ghana as a significant hydrocarbon province. Both the oil and gas that have been encountered in this well are of importance to Ghana's aspiration".
Mr Steve Want of Vitol said, "We are excited that this first well in our exploration programme in Ghana has made a discovery. We will continue our close partnership with GNPC and the Government of Ghana in the exploration programme and look forward to more successes in the years ahead".

Vitol Upstream Ghana, a subsidiary of Vitol Holding, a major oil company, obtained the first petroleum agreement with the Government of Ghana in 2006, to explore hydrocarbons in the West Cape Three Points Block offshore Ghana and a second petroleum agreement in 2008 in the southern block -- the Offshore Cape three Points South Block.
GNPC was established under PNDC Law 64 in 1983 with a mandate to undertake petroleum exploration, development and production activities on its own or in association with other companies and to ensure that the exploration of these hydrocarbon resources benefited the people of Ghana. ENI, Italy's biggest energy company by revenue, has recently agreed on a joint venture with Vitol Holdings as part of its efforts to expand its presence in sub-Saharan Africa.