Drilling update - Mozambique

RNS Number : 9376M

Tullow Oil PLC

02 September 2013

 



News Release

 

 

Drilling update - Mozambique

2 September 2013 - Tullow Oil plc (Tullow) announces 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 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 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 (Empresa Nacional de Hidrocarbonetos, E.P.) have a 10% carried interest.

Angus McCoss, Exploration Director, Tullow Oil plc commented today,

"Having encountered hydrocarbons with the Cachalote-1 well, we have acquired valuable information from the Buzio-1 dry hole. We will now combine the data from both offshore Mozambique wells with our extensive seismic in this licence area and determine our next steps."

FOR FURTHER INFORMATION CONTACT:

Tullow Oil plc (London) ([phone]) Chris Perry (Investor Relations) James Arnold (Investor Relations) George Cazenove (Media Relations)

Citigate Dewe Rogerson (London) ([phone]) Martin Jackson Jack Rich

Murray Consultants (Dublin) ([phone]) Joe Murray Joe Heron

Notes to Editors

Tullow Oil plc

Tullow is a leading independent oil & gas, exploration and production group, quoted on the London, Irish and Ghanaian stock exchanges (symbol: TLW) and is a constituent of the FTSE 100 Index. The Group has interests in over 150 exploration and production licences across 25 countries which are managed as three regional business units: West & North Africa, South & East Africa and Europe, South America and Asia.

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For further information please refer to the Tullow website at www.tullowoil.com.

 

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