Tullow to take stake in block offshore Guyana

Tullow Oil has agreed to farm into 30% of the newly defined Kanuku block offshore Guyana, operated by Repsol.

Offshore staff

LONDON – Tullow Oil has agreed to farm into 30% of the newly defined Kanuku block offshore Guyana, operated by Repsol.

The original Georgetown license expired last year following early termination of theJaguar-1 exploration well. The newly agreed terms call for 3D seismic to be acquired before the end of the initial two-and-a-half-year period. Tullow already has exploration interests in neighboring Suriname and French Guiana.

In the Norwegian sector, the company will participate in wells on the Mantra prospect, close to the Troll field, Wisting in the Barents Sea, and Kuro, a high-risk, high-upside play-tester well.

Finally, the Tullow-operated Schooner-11 well has started drilling in the UK southern gas basin, targeting an undrained compartment of the field. It is expected to increase production by around 20 MMcf/d (566,367 cm/d) later this year.

7/03/2013

More in Regional Reports