Discovery Offshore Guyana Better Than Expected



Discovery Offshore Guyana Better Than Expected
Tullow reported a better-than-expected start to its offshore Guyana drilling campaign.

Tullow Oil plc on Monday reported a better-than-expected start to its offshore Guyana drilling campaign.

According to a written statement from Tullow, the Jethro-1 exploration well – operated by Tullow Guyana B.V. – represents the company’s first discovery on the Orinduik license. Tullow also noted that Jethro-1 encountered 180 feet (55 meters) of net oil pay, supporting a recoverable oil resources estimate exceeding the firm’s pre-drill forecast.

“This substantial and high value oil discovery in Guyana is an outcome of the significant technical and commercial focus which has underpinned the reset of our exploration portfolio,” Tullow CEO Paul McDade stated. “It is an excellent start to our drilling campaign in the highly prolific Guyana oil province.”

Drilled by the Stena Forth drillship to a total depth of 14,436 feet (4,400 meters) in approximately 4,429 feet (1,350 meters) of water, Jethro-1 significantly de-risks other Tertiary-age prospects on the Orinduik license, stated Tullow, which owns a 60-percent interest in the block. As Rigzone has reported, drilling began on July 4.

Later this month, Tullow will spud the shallower Upper Tertiary Joe prospect after operations conclude at Jethro-1. In addition, Tullow stated the Carapa 1 well will be drilled later this year on the adjacent Kanuku license – operated by Repsol Exploracion Guyana, S.A. – to test the Cretaceous oil play.

“We look forward to drilling both the Joe and Carapa prospects in our 2019 drilling campaign and the material follow-up exploration potential in both the Orinduik and Kanuku licenses,” stated McDade.

Other participants in the Orinduik block include Total E&P Guyana B.V., which owns a 25-percent interest, and Eco(Atlantic) Guyana Inc. (15 percent). Qatar Petroleum also will be entering Guyana via a farm-in deal with Total to obtain stakes in Orinduik and Kanuku.



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