27th May 2014 07:11
LONDON (Alliance News) - Tullow Oil PLC said Tuesday it will abandon and plug the exploration well 31/2-21S in the Gotama prospect, offshore Norway, after its drilling programme failed to encounter reservoir quality sandstones in the Upper Jurassic main target.
The FTSE 100-listed oil company said that while the well encountered reservoir quality sandstones in the secondary targets, these intervals were water wet.
The 31/2-21S wildcat was the first exploration well in the 550 licence and was targeting sandstone reservoirs in the Upper Jurassic Draupne Formation as the main target and additional sandstone targets in the Middle Jurassic Sognefjord Formation and Brent Group, said Tullow Oil.
The well was drilled by the Borgland Dolphin semi submersible rig, located approximately 12 kilometres northwest of the Troll C Platform and 120 kilometres northwest of Bergen. The well was drilled into the Lower Jurassic Cook Formation to a total depth of 3217 metres in water depths of 348 metres. It will now be plugged and abandoned.
Tullow operates the 550 licence with 80% equity and is partnered by Det Norske and VNG Norge AS which each hold 10% equity in the licence.
Shares in Tullow Oil were trading 0.12% lower at 840 pence per share shortly after the open Tuesday.
By Alice Attwood; [email protected]; @AliceAtAlliance
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