Tullow announces South America oil discovery
Tullow Oil has announced an oil discovery from an exploration well off the coast of French Guiana.
The company said the objective of the Zaedyus well was to test whether its productive Jubilee field off the coast of Ghana was mirrored on the other side of the Atlantic. T
"his discovery therefore opens a new hydrocarbon basin within which several neighbouring prospects have been mapped," the companys aid.
An appraisal programme and extensive follow-up exploration activities will now be considered.
Tullow (27.5%) operates the Guyane Maritime license and is partnered by Shell (45%), Total (25%) and Northpet (2.5%), a company owned 50% by Northern Petroleum plc and 50% by Wessex Exploration plc.
“The discovery at Zaedyus has proved the extension of the Jubilee-play across the Atlantic and made an important new discovery in French Guiana," said Angus McCoss, Tullow’s Exploration Director.
"Tullow has built a commanding and unique acreage position in South America and this result marks the start of a significant and potentially transformational long-term exploration and appraisal campaign in the region.”
