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Tullow Comes Up Empty at Exploration Well Offshore Namibia

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   |    Monday,September 24,2018

Tullow Oil reported that the Cormorant-1 exploration well in the PEL-37 licence, offshore Namibia, has not encountered commercial hydrocarbons.

As a result, the well is being plugged and abandoned.

Sandstones were encountered in the primary objective of the well but these proved to be water bearing.

Tullow operates the PEL-37 licence with 35% equity and is partnered by ONGC Videsh Ltd (30%), Pancontinental Oil & Gas (30%) and Paragon (5%).

Angus McCoss, Exploration Director, Tullow Oil plc, commented: “The Cormorant-1 frontier exploration well was a bold attempt to open a new oil play in this area of Tullow’s offshore Namibia acreage. Gas readings while drilling continue to support the concept that there is a working oil system in the area. As a result, following the conclusion of operations, we will analyse the data gathered before deciding on any future activity. While this is not the outcome that we had hoped for, the efficiency of our drilling and our risk management processes resulted in a low financial exposure to this well."



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