French Guiana farmout

RNS Number : 7258D

Tullow Oil PLC

08 December 2009

 



News Release 

Tullow farm out a 25% interest in French Guiana acreage to Total

8 December 2009 - Total have today issued the following press release regarding their acquisition of a 25% interest in Tullow Oil plc's Guyane Maritime Permit in French Guiana. 

Paris, 8 December 2009 - Total announces the acquisition of a 25% interest in the Guyane Maritime Permit from Hardman Petroleum France SAS, an affiliate of Tullow Oil plc. The permit, located about 150 kilometres off the coast of the French Guiana, covers an area of approximately 32,000 square kilometers (km2) in water depths ranging from 2,000 to 3,000 metres. 

This acquisition, which is subject to approval from the French authorities, complements Total's portfolio in deep water acreage in a new oil exploration region for the Group. In the permit, a 3D seismic acquisition program covering an area of up to 3,000 km2 is already underway. 

"With the acquisition of an interest in the Guyane Maritime Permit, Total will be able to bring its expertise in deep water to an exploration program deployed in a French department," stated Yves-Louis Darricarrère, President, Exploration & Production.

Under the new partnership structure, Hardman Petroleum France SAS is operator of the permit with a 39.5% interest. Other partners are Shell Exploration and Production France SAS (33%), Total E&P Guyanne Française (25%) and Northpet Investments Ltd (2.5%).

FOR FURTHER INFORMATION CONTACT:

Tullow Oil plc  ([phone]) Angus McCoss Chris Perry James Arnold

Citigate Dewe Rogerson  ([phone])  Martin Jackson George Cazenove

Murray Consultants  ([phone])  Joe Murray  Ed Micheau

Notes to Editors

Tullow is a leading independent oil & gas, exploration and production group, quoted on the London and Irish Stock Exchanges (symbol: TLW) and is a constituent of the FTSE 100 Index. The Group has interests in over 85 exploration and production licences across 23 countries and focuses on four core areas: Africa, Europe, South Asia and South America.

In Africa, Tullow has production in Gabon, Côte d'Ivoire, Mauritania, Congo (Brazzaville) and Equatorial Guinea and two large appraisal and development programmes in Ghana and Uganda. Tullow also has exploration interests in Gabon, Côte d'Ivoire, Liberia, Sierra Leone, Mauritania, Senegal, Congo (DRC), Tanzania, Madagascar, 

Namibia and Angola.

Tullow's European interests are primarily focused on gas in the UK Southern North Sea where it has significant interests in the Caister-Murdoch System and the Thames area. The company also has interests offshore the Netherlands and Portugal. 

In South Asia, Tullow has exploration and production in Pakistan and Bangladesh. In South America, Tullow has exploration interests in Guyana, French Guiana and Suriname. 

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

 

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