Tullow Oil Reveals Discovery Of Higher Quality Crude Oil Offshore Guyana

GEORGETOWN, Guyana, January 3, 2020 (CMC) – The UK-based company, Tullow Oil, revealed, yesterday, that it has discovered a higher quality of crude oil, offshore Guyana, in the Carapa-1 well, within the Kanuku licence.

According to the company, while the well hit only four metres net oil pay, which was below pre-drill expectations, the discovery is in the Cretaceous play and is higher quality crude – rather than the heavy, sulphurous oil found, last year, in the Orinduik licence block.

Oil found in the Carapa well was tested and confirmed as 27 degree API crude, with a sulphur content below one percent.

The Carapa result suggests an extension of the Cretaceous play from Exxon’s prolific Stabroek licence – which has seen 15 successful wells, for around six billion barrels of crude resources in the Kanuku block.

“The Carapa-1 result is an important exploration outcome with positive implications for both the Kanuku and Orinduik blocks,” said Tullow’s Chief Operating Officer, Mark MacFarlane.

“While net pay and reservoir development at this location are below our pre-drill estimates, we are encouraged to find good quality oil, which proves the extension of the prolific Cretaceous play into our acreage.

“We will now integrate these results of the three exploration wells, drilled in these adjacent licences, into our Guyana and Suriname geological and geophysical models, before deciding the future work program.”

Repsol Exploración Guyana is the operator of the Kanuku block, with a 37.5 percent stake. Tullow Guyana also holds a 37.5 percent stake, with Total E&P Guyana holding the remaining 25 percent.