7th Jul 2016 12:07
LONDON (Alliance News) - Tullow Oil PLC Thursday said it failed to find any hydrocarbons within the well drilled on the Rome prospect in the Central North Sea in Norway.
The company, which recently lowered its full year production guidance due to problems with its main producing field offshore Ghana, has now plugged and abandoned the Norwegian well located on production licence PL776.
The well was drilled to a depth of 2,319 metres below sea level using the semi-submersible Borgland Dolphin rig. Tullow holds a 40% stake in the licence alongside partners Concedo, Wintershall and Petoro - which all hold a 20% stake each.
Tullow shares were up 3.1% to 217.0 pence per share on Thursday.
By Joshua Warner; [email protected]; @JoshAlliance
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