Deepwater Peru Well is a Dry Hole

Tullow Oil plc reported Monday that the Karoon Energy-operated Marina-1 exploration well, drilled on the Z-38 license in the Tumbes Basin offshore Peru, having reached total depth and having encountered no significant hydrocarbons, will be plugged and abandoned.
Karoon, through its KEI (Peru Z-38) Sucursal del Peru subsidiary, holds a 40-percent interest in Marina-1. Tullow and Pitkin Petroleum own the remaining 35-percent and 25-percent interests, respectively. As Rigzone has reported, the partners spud the well late last month with the Stena Forth drillship.
“This is the first ever well in the deepwater section of the under-explored Tumbes Basin,” Mark MacFarlane, chief operating officer of Tullow, noted in a written statement emailed to Rigzone.
Tullow also stated that Marina-1 reached a total depth of 3,022 meters in 362 meters of water. The company added the well tested the La Cruz and Mal Pelo formations.
“We will now integrate the important well information with the seismic data that we are currently reprocessing and update our prospect inventory for blocks Z-38 and Z-64,” continued MacFarlane. “Tullow is building an extensive exploration in Peru and, while this result is not what we had hoped for, we remain positive about Peru’s wider offshore exploration potential.”
In a separate written statement Monday, Karoon noted the well progressed to plan, on time, within budget and with no safety or environmental incidents. It added that its primary focus remains completing its acquisition from Petrobras of the Bauna oil field in the Santos Basin offshore Brazil.
To contact the author, email mveazey@rigzone.com.
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- Top Headlines: USA Navy and Iran Corps Clash in Strait of Hormuz and More
- USA Condemns Mortar Attacks on IKR Oil Infrastructure
- Libya Says It May Suspend Oil Exports from Key Terminals
- Sonatrach Makes Massive Gas Find In Sahara Desert
- G7 Weighs Russia Oil Price Cap
- Oil Prices Buck Recession Trend
- Exxon, Shell, CNOOC To Develop CCS Project In China
- Who Produced the Most Oil and Gas in 2021?
- First-Ever 8th Gen Drilling Juggernaut Delivered To Transocean
- More Oil Workers Being Trained to Operate in Permian
- USA Navy and Iran Corps Clash in Strait of Hormuz
- Oil Industry Responds to Biden Letter
- Top Headlines: USA Navy and Iran Corps Clash in Strait of Hormuz and More
- Oil Nosedives on Fed Inflation Actions
- Top Headlines: Oil Industry Responds to Biden Letter and More
- Too Early To Speculate on ExxonMobil Refinery Fire Cause
- Fitch Solutions Reveals Latest Oil Price Forecast
- ExxonMobil Made More Money Than God This Year
- Russian Oil Disappears as Tankers Go Dark
- OPEC+ Set to Remove All Production Curbs in August