Tullow identifies drilling targets off French Guiana

Offshore staff

LONDON -- Tullow Oil continues to assess the exploration potential of its 32,500-sq km (1,255-sq mi) Guyane Maritime block offshore French Guiana.

Last year, attention shifted to high-impact leads on the `Eastern Lobe’ play in the south-eastern part of the block. These are said to comprise high-risk stratigraphic traps analogous to the deepwater Jubilee field off Ghana, having been formed in contemporaneous Upper Cretaceous turbidite fans.

To de-risk prospectivity and to delineate drilling targets, the partners commissioned a six-month 2,500-sq km (965-sq mi) 3D seismic survey which has just been completed.

Processing and interpretation of the data will be performed during the remainder of the year. Planning for drilling operations is already under way, with a view to contracting a deepwater rig for a first well on the block towards year-end.

Late in 2009, Tullow farmed out 25% interests in the block to Shell and Total, both subject to a review by the French government. Shell has an option to take a further 12% and operatorship late this year.

In the Georgetown block offshore neighboring Guyana, Tullow and its partners completed an extensive 3D survey early last year. The data has been processed and interpreted, leading to identification of numerous stratigraphic trap prospects at Upper Cretaceous and Tertiary levels. Drilling should start here too around year-end.

3/15/2010