Tullow Oil has announced its second big discovery in Africa in two days.
The latest find, revealed yesterday, has led the company to say its Kasamene-2 exploration well in Uganda has helped to firm up an early development plan for the country’s block 2 – which Tullow operates with a 100% interest – after hitting 432 feet of gross pay.
The company said the well had found both oil and gas and the pay zone was the largest encountered in the area so far.
Tullow chief operating officer Paul McDade said: “Encountering the largest net pay thickness in Butiaba to date is an outstanding result, confirming the lateral quality and extent of the Victoria Nile Delta reservoirs and enabling fast-tracked development of the Kasamene field.
“We continue to work closely with the government of Uganda on plans for development and look forward to achieving early first oil from the basin.”
Tullow said that a further four appraisal wells would be drilled this year to delineate other significant discoveries in the area.
The company said on Thursday that results of its Tweneboa-2 appraisal well in the Deepwater Tano block offshore Ghana meant that Tweneboa was a major oil and gas-condensate field.
Tullow’s proven and probable recoverable reserve estimates for Tweneboa are currently 250million barrels of oil equivalent (boe), but analysts said they were increasing the reserve estimates to 500million boe and these could rise to more than 1billion.