High quality oil bearing sandstone has been discovered following the drilling of an exploration well off the shores of Guyana.
Tullow Oil has announced the results of its Jethro-1 well, drilled on the Orinduik licence by its wholly owned subsidiary Tullow Guyana B.V.
The well was drilled by the Stena Forth drillship to a depth of 4,400 metres in approximately 1,350 metres of water. The well encountered 55m of net oil pay which supports a recoverable oil resource estimate exceeding the company’s pre-drill forecast.
Jethro-1 is the first discovery on the Orinduik licence and its reservoirs date from the Lower Tertiary age. Tullow will now evaluate the data from the discovery.
The company said the result boosts other prospects on the Orinduik licence, including the shallower Upper Tertiary Joe prospect which will commence drilling later this month.
The non-operated Carapa 1 well will also be drilled later this year, on the adjacent Kanuku licence.
Tullow Guyana B.V. is the operator of the Orinduik block with a 60 per cent stake. Total E&P Guyana B.V. holds 25 per cent with the remaining 15 per cent is held by Eco (Atlantic) Guyana Inc.
Paul McDade, CEO of Tullow, said: “This substantial and high value oil discovery in Guyana is an outcome of the significant technical and commercial focus which has underpinned the reset of our exploration portfolio.
“It is an excellent start to our drilling campaign in the highly prolific Guyana oil province. We look forward to drilling both the Joe and Carapa prospects in our 2019 drilling campaign and the material follow-up exploration potential in both the Orinduik and Kanuku licences.”