Ghana discovers oil off western coast

The Ghana National Petroleum Corporation (GNPC) on Wednesday announced the discovery of more oil off the western shores of the country. The discovery, made at the Pecan-1 exploration well located in the Deepwater Tano/Cape Three Points block, is by far the fifth made in the block, following Almond, Beech, Hickory North and Paradise. "The Pecan-1 oil discovery and the four other discoveries have significantly increased the hydrocarbon reserves of the block," said Thomas Manu, director of operations at GNPC. GNPC also announced that another well drilled in the Deepwater Tano License off western Ghana had also encountered an oil bearing reservoir in its secondary objective. "The small oil accumulation will be investigated further to establish its commercial value and potential increase in the hydrocarbon reserves of the block," Manu said. GNPC has a 10-percent interest in the Deepwater Tano Block while Hess, a US-based explorer, has the remaining 90 percent.