Wednesday 24 May 2017

'Exciting discovery' for Tullow as oil found at well in northern Kenya

Tullow Oil facility in Uganda
Tullow Oil facility in Uganda
Louise Kelly

Louise Kelly

Tullow Oil has announced that its exploration in Kenya has resulted in an oil discovery.

The Erut-1 exploration well - drilled in Northern Kenya - discovered a gross oil interval of 55m with 25m of net oil pay.

The shallow depth of the discovery - at 700m - means future wells should be relatively low-cost.

Erut-1 was drilled 10km north of Etom-2 and is the most northerly oil discovery in the South Lokichar basin.

The northern portion contains several prospects similar to Erut and Etom identified by 3D seismic data.

Tullow operates Blocks 13T and 10BB with 50pc equity and is partnered by Africa Oil Corporation and Maersk Oil both with 25pc.

The rig will now move to the southern part of the Lokichar basin to drill an appraisal well on the Amosing field.

Exploration Director Angus McCoss said: "This is an exciting discovery from a bold exploration well that proves that oil has migrated to the northern limit of the South Lokichar basin."

"This extends the known hydrocarbon limits of the basin beyond the successful Etom discovery into the underexplored northern part of the basin where we have several undrilled prospects.

"Following the scheduled appraisal wells at Amosing-6 and Ngamia-10, further exploration drilling of this area is now being planned."

Tullow Oil's 10-year share history
Tullow Oil's 10-year share history

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