Tullow Reports No Hydrocarbons Find at Buzio-1 Well off Mozambique

Tullow Oil plc (Tullow) announced Monday that the Buzio-1 exploration well in Area 2 offshore Mozambique has not encountered hydrocarbons and, following the completion of logging operations, has been plugged and abandoned.

The Buzio-1 well is the second deepwater exploration well drilled in Area 2 and targeted stratigraphic traps in channel systems of Tertiary and Upper Cretaceous ages. Good quality water bearing reservoir sandstones were found in both targets.

The Discoverer Americas (UDW drillship) drilled Buzio-1 to a final depth of 10,935 feet (3,333 meters) in water depths of 5,033 feet (1,534 meters).

Tullow has a 25 percent interest in Areas 2 and 5 in the Romuva Basin, offshore Mozambique. Statoil 40 percent are the operator while INPEX have a 25 percent non-operated interest. ENH (Empresa Nacional de Hidrocarbonetos, E.P.) have a 10 percent carried interest.

Angus McCoss, Exploration Director, Tullow Oil plc commented today,

“Having encountered hydrocarbons with the Cachalote-1 well, we have acquired valuable information from the Buzio-1 dry hole. We will now combine the data from both offshore Mozambique wells with our extensive seismic in this license area and determine our next steps.”


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