Tullow Discovers Higher Quality Oil in Guyana

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GEORGETOWN- TULLOW OIL said it has discovered a higher quality of crude oil offshore Guyana in the Carapa-1 well within the Kanuku licence.

On Thursday, the company stated that while the well hit only four metres net oil pay which was below predrill expectations, the discovery is in the Cretaceous play and is higher quality crude, rather than the heavy, sulphurous oil found last year in the Orinduik licence block.

Tullow’s Chief Operating Officer Mark MacFarlane said, “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.”



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