Discovery Offshore Guyana Better Than Expected

On the 12th August Tullow Oil Plc 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 BV – represents the company’s first discovery on the Orinduik licence.


Tullow also noted that Jethro-1 encountered 180 feet (55 metres) 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 metres) in approximately 4,429 feet (1,350 metres) of water, Jethro-1 significantly de-risks other Tertiary-age prospects on the Orinduik licence, stated Tullow, which owns a 60-percent interest in the block.


Drilling began on the 4th July.


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 licence – operated by Repsol Exploracion Guyana, SA – 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 licences,” Mr McDade stated.


Other participants in the Orinduik block include Total E&P Guyana BV, 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.


Source: Rigzone