Tullow finds more oil in Sierra Leone
Tullow Oil plc says it has made a third hydrocarbon discovery in an exploration well Jupiter-1, offshore Sierra Leone.
The find was confirmed by the results of drilling, wireline logs and samples of reservoir fluids.
Jupiter-1 was drilled in Block SL-07B-11, which is operated by Anadarko (505% interest) along with partners Repsol (205%) and Tullow (200%).
Exploration Director of Tullow, Angus McCoss, said in a company statement: “Jupiter is the third discovery in the Liberian Basin by Tullow and its partners, and provides further support for the stratigraphic play in the region. The presence of a working petroleum system producing gas and light oil in the basin is encouraging.”
The well has been preserved for possible future re-entry, as the area is likely to require additional evaluation, Tullow said.
“Our technical team will continue evaluating prospectivity across our significant regional acreage position,” McCoss added.
Tullow, which leads the Jubilee development, has said it now hopes to reach initial peak production in Ghana of 120,000 barrels per day (bpd) in 2013, after technical problems and delays in providing infrastructure for gas affected the output of wells.
It expects production from Jubilee to average 70,000 to 90,000 bpd in 2012. It has also said it will submit a plan of development for the Tweneboa, Enyenra and Ntomme (TEN) project in the third quarter of this year, with first oil expected 30 months after approval.
Last year, Tullow invested US$1.4billion in capital expenditure and expects to ramp it up to US$2billion this year. Provisional 2011 revenues of the company were put at US$2.3billion, more than double the figure in 2010.
This article was originally posted on Africa Oil & Mining Network
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