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Fuel card news: Oil struck off Ghanaian coast

26 July, 10
A British oil exploration firm has announced that it has tapped into a "very substantial" amount of oil sitting off the coast of Ghana.

Tullow Oil revealed it uncovered a new reservoir of "excellent quality" crude oil during preliminary drilling six kilometres to the west of the nearby Tweneboa wells and the company was quick to hail its "major" discovery.

"Given this success, we are immediately drilling an appraisal sidetrack to further assess the size of this find," said exploration manager Angus McCoss. "Accelerated appraisal drilling will now focus on maturing the resources."

Last week, rival company Rockhopper Petroleum commenced drilling at another prospect close to the disputed Falkland Islands, after work earlier in the year yielded encouraging results.

The potential offshore oil production in the area has heightened tensions between London and Buenos Aires, with the Argentinean government calling on its British counterpart to bring progress to a halt.

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Posted by James RichmondADNFCR-2675-ID-800005187-ADNFCR

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Fuel card news: Oil struck off Ghanaian coast