Tullow Oil has announced that it has plugged and abandoned an exploration well offshore Suriname, after not making an oil discovery.
The Araku-1 exploration well in Suriname has been drilled to a total depth of 2,685 metres and penetrated the objectives of the Araku prospect but no significant reservoirs were found.
“The Araku-1 well was an ambitious wildcat exploration well that was drilled efficiently and at very low cost. While we have not made a commercial discovery, we are encouraged by recovering gas condensate from the well and remain fully committed to exploration in Suriname and Guyana," said Angus McCoss, exploration director.
Tullow Oil operates Block 54 with a 30 per cent interest alongside joint venture partners, Statoil (50 per cent interest) and Noble Energy (20 per cent interest).
McCoss added: "Tullow continues to pursue the considerable prospectivity and potential of this large licence and the wider region. We will now consider our next steps with our Joint Venture partners.”