Anadarko Makes Ghana Oil, Gas Discovery

Printer Friendly Version

Anadarko Petroleum, the Texas-based independent oil and natural gas producer, said made yet another African discovery, this time announcing it encountered oil, condensate, and natural gas in a well of the coast of Ghana. The well that found the oil was drilled to a total depth of about 10,400 feet, in about 2,850 feet of water, according to the Associated Press.

Anadarko (APC) has been active in Ghana with U.K.-based Tullow Oil. The two firms are currently working together to extract oil from the Jubilee Field. As for Anadarko's latest Ghana discovery, the company said it is evaluating data and that another test well is in the works.

Anadarko holds a 30.9% stake in the well. The partnership doing the drilling plans to suspend the well for future use and move the drilling rig for the other test well, the AP reported.

Earlier this week, Anadarko announced another gas discovery off the coast of Mozambique, its fourth discovery in the African nation. The company also said it plans to start its El Merk project in Algeria by the end of this year.

Archives:200920102011201220132014