Irish oil and gas major Tullow has announced that the Owo-1 exploration well in the Deepwater Tano licence in Ghana has encountered a "significant column of excellent quality light oil".

In a statement to investors, the company declared that the find establishes Owo as a major new field which will require further appraisal.

Since it began drilling in 2007, Tullow has operated with a near-100 per cent success rate and has been instrumental in establishing the country's nascent oil and gas industry.

The company is currently investing in a range of training and development programmes to ensure Ghanaians will be able to find work in the industry when the first commercial well comes on stream in the final quarter of this year.

Tullow has also enjoyed considerable success in Uganda's Lake Albert basin and is investing in training in both Uganda and neighbouring Chad to promote stability in both countries.

Getenergy for Western Africa