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West Africa: Next Big Deal in Oil?

(AP Photo)
(AP Photo)

LONDON (UPI) – With the right investment strategies, the emerging offshore oil prospects in West Africa could be the industry’s next big deal, an executive leader said.

West Africa has drawn interest from international energy companies eager to tap into unexploited reserves.

Africa-focused Tullow Oil is among the early players in West African basins, tapping into prospects off the coast of Ghana. The region’s deepwater Tweneboa-Enyenra-Ntomme prospect, known also as the TEN project, should deliver its first oil by 2016. At its peak, the company said the prospect is expected to produce about 80,000 barrels of oil per day.

The Jubilee field off the Ghanaian coast could eventually produce more than 125,000 bpd.

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