Business News of Thursday, 13 December 2012

Source: Nana Boakye-Yiadom

Hess Petroleum announces further investments in Ghana

US based oil giants, Hess Petroleum has announced further investments in its operations in Ghana after finding oil in commercial quantities located in the Deepwater Tano/Cape Three Points license offshore Ghana.

Hess Petroleum controls a 90% stake in that block while the Ghana National Petroleum Corporation (GNPC) holds the remaining 10%.

Hess is preparing to drill its next well in the block about 15 miles northeast of its latest find, and said more exploration activity and pre-development is planned in next year.