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Frontier Exploration Areas in Africa Featured PR

Ghana is Poised To Become An Important Crude Oil Exporter From West Africa
Hyderabad, AP, India ( 14/10/2010

"Analysis of Upstream Fiscal Policies and Exploration & Development Plans of Key Companies"

Since the discovery of the giant Jubilee field in 2007, Ghana has emerged as a lucrative region for oil exploration and production. Following the discovery, Tullow Oil and its partners have drilled a number of successful exploration and appraisal wells in the country. Tullow Oil recently announced a new discovery (Owo) in Ghana, making it the company’s third major field in the country after Jubilee and Tweneboa.The fist oil from Jubilee field is expected in November-December 2010, establishing Ghana as a significant oil producing nation. Following a period of testing, production will gradually increase over approximately six months to plateau at 120,000 barrels of oil per day (bopd). The field will also produce approximately 12 million cubic feet per day (MMcfd) of natural gas.

The increasing number of oil and gas discoveries in Uganda has proved that there are significant hydrocarbon reserves in the country. Tullow Oil has drilled approximately 30 wells in the country (up to July 2010), from Kingfisher-1 in the south to Buffalo-1, 150 km to the north. All but one of these wells have encountered oil and gas.

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The acquisition of Heritage Oil’s interest by Tullow Oil in July 2010 has made Tullow Oil the sole owner of blocks 1, 2 and 3A. Tullow Oil has entered into an agreement with CNOOC and Total S.A. to farm its interest in the three Ugandan assets. The entry of these two major oil companies in Uganda’s upstream sector will attract more investments leading to a faster development of the country’s hydrocarbon reserves.

Presently, Uganda does not produce any crude oil but its crude oil production is expected to begin during the last quarter of 2010 (through extended well tests). With the latest well drilled in the country, total discovered resources in Uganda have reached approximately 1 billion barrels. Production in the country is expected to reach in excess of 200,000 bopd by 2014/2015.

GlobalData’s new report “Frontier Exploration Areas in Africa - Analysis of Upstream Fiscal Policies and Exploration & Development Plans of Key Companies” analyzes the major frontier areas in Africa in terms of exploration and development. The countries covered in the report include Ghana, Uganda,Madagascar, Tanzania, Mozambique, Kenya, Namibia, Liberia, Ethiopia and the Seychelles. The report provides an overview of the upstream sector in these countries detailing the major sedimentary basins in
these countries and the previous licensing rounds information. The report also provides details of the key fiscal terms in each country. It details information on the exploration blocks awarded, historical wells drilled and current exploration and development activities in the upstream sector of these countries. It also provides details of operations of key companies in each country covered in this report.

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