Offshore staff
LONDON – Tullow Oil will P&A the Cormorant-1 exploration well offshore Namibia, after failing to find hydrocarbons.
The drillshipOcean Rig Poseidon drilled the well in 548 m (1,798 ft) of water on the PEL37 license, to a TD of 3,855 m (12,648 ft).
The well encountered water-bearing sandstones in the primary target, with wet gas signatures, indicative of oil, in the overlying shale section.
Tullow’s partners are ONGC Videsh, Pancontinental Oil & Gas, and Paragon.
The company’s exploration director Angus McCoss said: “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 analyze 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.”
09/24/2018
