Tullow Oil of the United Kingdom last week said that it is focused on prospect maturation in the Guyana/Suriname basin and is working with partners to develop plans to unlock value from the Kanuku Licence here.
“In exploration, the team’s very focused on maturing prospects across the portfolio, but there is particular emphasis on Guyana,” Chief Executive Officer of Tullow Oil Rahul Dhir stated during his presentation of the company’s 2020 full year result. He added that they are making good progress in this regard.
The company released a statement saying that its exploration team will fully evaluate the prospective net risked resources of 900 million barrels of oil equivalent in emerging basins in Argentina, Guyana, Namibia, Côte d’Ivoire, and Suriname.
In January 2020, Tullow drilled the Carapa-1 well in the Kanuku licence, offshore Guyana. The well was uncommercial on a standalone basis but according to Tullow the result extended the prolific Cretaceous light oil play into the group’s Guyana acreage, across both the Kanuku and Orinduik blocks.
“Tullow is now working with its joint venture partners on the overall prospect inventory and developing plans to unlock value from this acreage,” the statement added.
Just over a year ago Tullow disclosed that it had discovered heavy crude in Guyana’s offshore Carapa oil well, though, shortly thereafter, it said that it would be discontinuing its drilling operations in the area and would instead would be reviewing the results of exploration carried out under separate exploration licences at Kanuku and Orinduik, in Guyana.
“In the Orinduik Block, the Jethro-1 and Joe-1 wells discovered 55 metres and 14 metres of net oil pay, respectively in Tertiary-age reservoirs. Full analysis of the oil found indicated both deepwater discoveries contained heavy oil with high sulphur content. In the Kanuku block, operated by Repsol, the Carapa-1 well drilled in a water depth of 80 metres discovered four metres of net oil pay containing good quality low sulphur oil, but in poorly developed reservoirs of Cretaceous age. The Carapa-1 well confirmed the extension of the prolific lighter oil hydrocarbon play in the Stabroek Block which is adjacent to Tullow’s acreage,” the Tullow statement informed.
Meanwhile, Tullow stated that in Suriname, the Goliathberg-Voltzberg North well in Block 47 is drilling currently and is targeting two prospective intervals in a Cretaceous turbidite play in approximately 1,900 metres of water. The well is being drilled by the Stena Forth drillship and a result is expected in the second quarter of this year.
