Tullow steps up development, exploration offshore Mauritania

Tullow Oil says extensions have been granted to the discovery areas of two licenses offshore Mauritania.

Offshore staff

LONDONTullow Oil says extensions have been granted to the discovery areas of two licenses offshore Mauritania.

The company has increased its equity in the PSC A and PSC B concessions, where itrecently became operator, to 67.3% and 64.1%, respectively. They contain the Banda, Tevet, and Tiof oil and gas discoveries.

Development of the Banda gas discovery is progressing – the partners are in negotiations with Mauritania’s government on a plan to supply gas to a new local power station.

In June, the first part of a 3D seismic acquisition was completed over block C-2. Tullow plans a high-impact exploration well campaign across various exploration licenses off Mauritania in 2013.

Offshore Liberia, the company is increasing its equity position from 25% to 47.62% in blocks LB-16 and LB-17. Reprocessing of an extensive 3D seismic dataset over these blocks will be performed later this year. Tullow retains a 25% equity interest in block LB-15.

In block L8, offshore Kenya, Tullow says a potentially high-impact well (Mbawa-1) will be drilled during the current quarter. The company has identified a potential oil-prone area in this gas-rich province.

Offshore French Guiana, Tullow is a partner to Shell in a currentexploration/appraisal drilling campaign. In addition, a seismic vessel has been mobilized to acquire 3D seismic over either side of the Cingulata fan system. This will cover 620 sq km (239 sq mi) over the Cebus lead to the south, followed by a 4,700-sq km (1,814-sq mi) program to the north.

At the end of May 2012, another 3D survey (3,000 sq km/1,158 sq mi) was under way over Tullow’s block 47 offshore Suriname. It should take about four months to complete.

Tullow bid successfully for the 8,030 sq-km (3,100-sq mi) offshoreblock 15 under Uruguay’s recent second bid round. Discussions continue with ANCAP on finalizing terms for the PSC.

Block 15 is in the Pelotas basin in water depths of 2,000-3,000 m (6,562-9,842 ft). Geological plays being targeted are similar to the mid-Cretaceous stratigraphic turbidite plays that Tullow has pursued offshore West Africa and northeast Latin America.

7/25/2012

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