Tullow Oil reported today that it has found oil during drilling in one of its wells off the coast of Ghana.
In a statement the company said the well, called Hyedua-1, is in an area covered by the Deepwater Tano licence in which Tullow has a 49.95 per cent stake.
Aidan Heavey, Tullow chief executive said the discovery was a major step forward. "It significantly enhances our understanding of the resource, enables us to focus and accelerate our appraisal programme, and is highly encouraging for our plans to establish commercial production in Ghana."