Tullow Oil announced that it found oil in the Carapa-1 exploration well, drilled on the Kanuku licence offshore Guyana.
The drilling programme encountered four metres of net oil pay that has extended the prolific Cretaceous oil play into the Group's Guyana acreage. The well was drilled with the Valaris EXL II jack-up rig to a depth of 3,290 metres in 68 metres of water.
Tullow said that while net pay is lower than pre-drill forecasts, the 27 degree API oil supports the significant potential of the Cretaceous play on both the Kanuku and adjacent Orinduik licences.
Mark MacFarlane, chief operating officer, commented: “The Carapa-1 result is an important exploration outcome with positive implications for both the Kanuku and Orinduik blocks. While net pay and reservoir development at this location are below our pre-drill estimates, we are encouraged to find good quality oil which proves the extension of the prolific Cretaceous play into our acreage. We will now integrate the results of the three exploration wells drilled in these adjacent licences into our Guyana and Suriname geological and geophysical models before deciding the future work programme.”
Repsol Exploración Guyana, S.A. is the operator of the Kanuku block with a 37.5 per cent stake. Tullow Guyana B.V. holds a 37.5 per cent stake with Total E&P Guyana B.V. holding the remaining 25 per cent.