TORONTO – Tullow Oil and partner Eco (Atlantic) Oil & Gas have decided to enter Phase 2 of their petroleum agreement for the Orinduik block offshore Guyana.
The work commitment for Phase 2 involves acquiring a minimum of 1,000 sq km (386 sq mi) of 3D seismic, which the partners have already executed during their 2,550-sq km (984-sq mi) survey last September.
Colin Kinley, Eco’s COO, said: “The initial phase of processing is nearing completion. Once we are satisfied with the data at that stage, we will supply it toTotal for their review under their [25% farm-in] option agreement.
“While the precise date is yet to be determined by the partners, an announcement will be made at that time and the companies will begin working together on the interpretation and selection of well targets.”