Shell confirms deepwater oil discovery offshore French Guiana

As part of the Tullow-operated joint venture, Shell has confirmed an oil discovery in the Guyane Maritime permit about 150 km (93 mi) offshore French Guiana.

Offshore staff

HOUSTON – As part of the Tullow-operated joint venture, Shell has confirmed an oil discovery in the Guyane Maritime permit about 150 km (93 mi) offshore French Guiana.

The GM-ES-1 well is being drilled in a water depth of more than 2,000 m (6,650 ft) and to date has drilled to a depth of 5,711 m (18,737 ft). The well has encountered more than 70 m (230 ft) of net oil pay in two objectives. The joint venture plans to drill ahead to the planned target depth.

“We are pleased with the preliminary results of this first ever deepwater well offshore French Guiana,” said Dave Lawrence, Shell's executive vice president Exploration and Commercial. “We are early in the evaluation, but the initial results are encouraging for this new play. The joint venture will continue to drill ahead, evaluate the well results, and determine next steps.”

Shell acquired an initial equity interest of 33% in the joint venture in 2009 and increased its equity interest to 45% in 2010, subject to government approval. The joint venture is currently operated by Tullow (27.5%) with additional equity interest held by Total (25%) and Northpet (2.5%).

09/09/2011

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