Tullow, Total and Eco to Drill Offshore Guyana

Drilling on the second well for the 2019 Guyana offshore drilling program will begin in this summer.

Project partners Tullow Guyana B.V. (operator; 60 percent), Total E&P Activitiés Pétrolières (25 percent) and Eco Atlantic Oil & Gas Ltd. (15 percent) have selected the Joe Well as the second exploration well, Eco confirmed Friday.

The Joe prospect is a 150 million barrels of oil equivalent upper tertiary target with a 43.2 percent chance of success. It’s located in about 650 meters of water.

Colin Kinley, Chief Operating Officer of Eco Atlantic, commented: 

“The approval, at this stage, of a second well is a clear indication of the Partners’ risking of Orinduik,” Eco Atlantic COO Colin Kinley said in a release.

“The evaluation of the Orinduik Block is ongoing and we are confident in our ability to prove up oil in the Tertiary aged section that has already been derisked by our neighbors on the Stabroek Block with the Hammerhead discovery,” he added. “We have developed an excellent geological and geophysical model that we continue to build on together with our Partners.”

The partners have contracted the Stena Forth Drillship to drill the well. Drilling is set to begin mid-July.