(Tullow, 17.Jul.2020) — Tullow is also working closely with the government to secure additional licenses.
The Marina-1, non-operated exploration well, drilled in block Z-38 offshore Peru in Q1 2020 did not encounter significant hydrocarbons. The well was drilled to a total depth of 3,022 meters in 362 meters of water and was plugged and abandoned.
On Friday 17th July Tullow Peru signed the contracts for two new operated Exploration licenses in blocks Z-67 and Z-68, located offshore in the Ancash region in Peru.
Blocks Z-67 and Z-68 lie approximately 700km south of Tullow’s existing Z-38 and Z-64 licences. These new blocks are situated between 80 and 160 kilometres from the coastline and extend to a combined area of approximately 12,000km2.
Equivalent basins within the same geological context typically have a recoverable resource density of around a billion barrels (Bboe) per 10,000km2 with individual field sizes in the order of hundreds of millions of barrels (mmboe) recoverable, which provide an encouraging indication of the significant resource potential and value that could materialize within this frontier acreage.
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