Statoil has entered its first acreage in Ghana, farming into a deepwater license operated by Hess.

The Deepwater Tano/Cape Three Points (DWT/CTP) license was awarded to Hess Corporation (Hess) in 2006 and lies just south of the license containing the Jubilee field offshore Ghana.

Two wells have already been drilled in the DWT/CTP license with a third well, Hickory North-1, underway. The result from this well is expected within the end of second quarter of this year.

"This gives Statoil access to a large license in an emerging hydrocarbon province and the opportunity to participate in an area with high impact potential together with an experienced operator. It fits well with Statoil's strategy of early access in promising regions and our continued international expansion," said Pål Haremo, senior vice president for Exploration global new ventures in Statoil.

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