HOUSTON, Aug. 24 (UPI) -- U.S. independent oil and gas explorer Anadarko Petroleum announced a find of light-crude oil in an exploration well off the coast of Ghana.
Anadarko announced it encountered 108 feet of "high-quality, oil-bearing" pay at its Akasa-1 exploration well off the coast of Ghana. The discovery was characterized as light crude.
Anadarko Senior Vice President Bob Daniels, in a statement, said the discovery was seen as an enhancement to his company's work in the West African nation.
The well was drilled to roughly 12,850 feet in 3,800 feet of water.
Tullow Oil and its partners in Ghana marked a milestone for the Jubilee oil field in December when commercial oil flowed from the area for the first time.
Ghana ratified a bill in early March that regulates how the country spends its oil money. The measure sets up a watchdog group to monitor oil revenue spending but excluded a provision preventing the government from using crude as collateral for federal loans.
