West African nation Sierra Leone confirmed finding oil in its Mercury-1 exploration well off the coast by Anadarko Petroleum Corporation.
In an official statement Sierra Leone government said it is looking forward to the continued exploration, which is geared towards future production of oil and gas in the country.
The well, drilled at a depth of about 15,950 feet in about 5,250 feet of water, is Anadarko's second deepwater test in the Sierra Leone-Liberia basin.
These results continue to build momentum in the basin and enhance our confidence," Anadarko exploration vice president Bob Daniels said in the statement.
The Mercury well is located in the SL-07B-10 block about 40 miles south of Anadarko's Venus discovery.
The block is operated and 65 percent owned by Anadarko, a 25 percent stake is held by Repsol YPF SA and the remaining 10 percent is controlled by Tullow Oil Plc. Anadarko controls 4.6 million acres on five deepwater blocks off the coast of Sierra Leone and Liberia.
Sierra Leone's rich resources are drawing considerable attention as it recovers from an 11-year civil war ended in 2002 which ravaged its economy and left the world with images of child soldiers and rebels funded by the sale of "blood diamonds" hacking off limbs.
The recent discovery of the world s largest reported magnetite iron-ore deposit by African Minerals adds to the country's rich diamond, gold, bauxite and titanium ore stores.
In an official statement Sierra Leone government said it is looking forward to the continued exploration, which is geared towards future production of oil and gas in the country.
The well, drilled at a depth of about 15,950 feet in about 5,250 feet of water, is Anadarko's second deepwater test in the Sierra Leone-Liberia basin.
These results continue to build momentum in the basin and enhance our confidence," Anadarko exploration vice president Bob Daniels said in the statement.
The Mercury well is located in the SL-07B-10 block about 40 miles south of Anadarko's Venus discovery.
The block is operated and 65 percent owned by Anadarko, a 25 percent stake is held by Repsol YPF SA and the remaining 10 percent is controlled by Tullow Oil Plc. Anadarko controls 4.6 million acres on five deepwater blocks off the coast of Sierra Leone and Liberia.
Sierra Leone's rich resources are drawing considerable attention as it recovers from an 11-year civil war ended in 2002 which ravaged its economy and left the world with images of child soldiers and rebels funded by the sale of "blood diamonds" hacking off limbs.
The recent discovery of the world s largest reported magnetite iron-ore deposit by African Minerals adds to the country's rich diamond, gold, bauxite and titanium ore stores.
