Executive Vice President of oil company Tullow Oil plc, Kweku Awotwi Executive Vice President of oil company Tullow Oil PLC, Kweku Awotwi, has said that the latest oil discovery in Guyana will be beneficial to Ghanaians.
According to him, the discovery does not only extend the radar of Tullow PLC but broadens the employment horizon of citizens as most of the people on the Stena Forth drillship in Guyana are Ghanaians.
“We already have some of our own Ghanaian geo-scientists that were in London last week who are going to be part of that exercise, doing the exploration, doing the engineering… The company moved the rig of Ghana to Guyana but kept the workforce from Ghana.”
Tullow, on Monday, announced a large discovery in South America’s Guyana which shot the shared London-based oil company to 20% moments after the discovery. This made them the top gainer in the FTSE 250 mid-cap index.
Awotwi revealed that the initial discovery from the Jethro-1 well, shows commercial quantities.
“We’ve seen a minimum of a hundred million (100,000,000) barrels… we have to drill more wells to really see what’s there but the initial discovery suggests that it’s commercial so that means that we’ll be doing more work,” he noted.
According to Tullow, “the Jethro-1 was drilled by the Stena Forth drillship to a Total Depth of 4,400m metres in approximately 1,350 metres of water. Evaluation of logging data confirms that Jethro-1 is the first discovery on the Orinduik licence and comprises high-quality oil-bearing sandstone reservoirs of Lower Tertiary age.
The well encountered 55m of net oil pay which supports a recoverable oil resource estimate which exceeds Tullow’s pre-drill forecast. Tullow will now evaluate the data from the Jethro discovery and determine appropriate appraisal activity”.
Kweku Awotwi was speaking at a media capacity training organized for the media by Tullow Oil PLC and Rigworld.