Perenco Drills 'Encouraging' Well Offshore Gabon

Tullow Oil reported that the Sputnik-1 well, drilled offshore Gabon by its partner Perenco, has produced an "encouraging result" despite failing to find commercial hydrocarbons.

The well, which was targeting a pre-salt structure in Gabon's offshore Arouwe block, encountered hydrocarbon pay in up to 985 feet of sandstone reservoir but this pay was deemed non-commercial.

However, Tullow Exploration Director Angus McCoss commented in a company statement:

"This is an encouraging result from the pre-salt play, offshore Gabon. Having found a petroleum system, we will now take the data from this well and integrate it with our seismic data to discuss with partners our next steps for the license."

Tullow has a 35-percent interest in the Arouwe block, while partners Perenco and ExxonMobil hold 35 percent and 30 percent respectively.

The Vantage Tungsten Explorer (DW drillship) was used to drill Sputnik-1 to a final depth of approximately 15,970 feet in water depths of 3,355 feet.



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