Wednesday 24 January 2018

Oil strike at well part-owned by Tullow

Peter Flanagan

Peter Flanagan

OIL has been discovered at a site in Africa that is part-owned by Tullow Oil.

The US-based Anadarko Petroleum, which operates the deepwater Mercury-1 exploration well in Sierra Leone, in which Tullow is a 10pc partner, said yesterday that it had struck about 135 net feet of oil pay in the well. Mercury is the company's second deepwater test in the Sierra Leone-Liberian Basin of the Atlantic.

"The Mercury well demonstrates that the stratigraphic trapping systems we've identified are working, and that the petroleum system is generating high-quality oil," said Anadarko's senior vice president for worldwide exploration, Bob Daniels.

"These results continue to build momentum in the basin and enhance our confidence in the team's seismic interpretation and geologic modelling.

"We are preserving the wellbore for potential re-entry, drillstem testing or a down-dip sidetrack to further delineate the reservoir's areal extent, quality and deliverability," he said.

Mr Daniels added that Anadarko planned to increase exploration of the area next year.

Irish Independent

Promoted Links

Business Newsletter

Read the leading stories from the world of Business.

Promoted Links

Also in Business