2nd Sep 2013 07:01
STAVANGER (Alliance News) - Tullow Oil PLC announced Monday that the Buzio-1 exploration well in Area 2 offshore Mozambique has not encountered hydrocarbons and, following the completion of logging operations, has been plugged and abandoned.
The Buzio-1 well is the second deepwater exploration well drilled in Area 2 and targeted stratigraphic traps in channel systems of Tertiary and Upper Cretaceous ages. Good quality water bearing reservoir sandstones were found in both targets, the company said.
The company noted that the Discoverer Americas dynamically positioned drill ship drilled Buzio-1 to a final depth of 3,333 metres in water depths of 1,534 metres.
Tullow said it has a 25% interest in Areas 2 and 5 in the Romuva Basin, offshore Mozambique. Statoil 40% are the operator while INPEX have a 25% non-operated interest. ENH or Empresa Nacional de Hidrocarbonetos, E.P. have a 10% carried interest.
Copyright RTT News/dpa-AFX
Related Shares:
Tullow Oil