(Tullow, 10.Aug.2023) — Tullow Oil Plc agreed to sell its total interest in Tullow Guyana B.V. (TGBV), which includes the Orinduik licence (Tullow 60% operated equity) in Guyana to Eco Guyana Oil and Gas (Barbados) Limited in exchange for a combination of upfront cash and contingent consideration. “This transaction is […]
Tag: Tullow Oil
Jubilee Field Producing Over 100,000 B/D
(Tullow, 17.Jul.2023) — Tullow provided an update on production from its Jubilee field following the recent start-up of the Jubilee South East (JSE) Project, offshore Ghana. Gross production from the field has surpassed 100,000 bopd, after a second JSE production well was brought onstream. Both of the JSE wells are performing […]
Tullow’s Provides Operations Update
(Tullow, 12.Jul.2023) — Tullow issues the following statement in advance of the Group’s 2023 Half Year Results scheduled for 13 September 2023. The information contained herein has not been audited and may be subject to further review and amendment. Rahul Dhir, Chief Executive Officer of Tullow, commented today: “This is an exciting […]
Tullow: Beebei-Potaro Exploration Well Plugged, Abandoned Offshore Guyana
(Tullow, 5.Aug.2022) — Tullow Oil plc announces that drilling operations at the Beebei-Potaro exploration well, drilled in the Kanuku licence, offshore Guyana, have been completed. The well encountered good quality reservoir in the primary and secondary targets but both targets were water-bearing. The Noble Regina Allen rig drilled the Beebei-Potaro […]
Tullow’s GVN Suriname Well Had “Minor Shows”
(Energy Analytics Institute, 18.Mar.2021) — Tullow Oil plc revealed the Goliathberg-Voltzberg North exploration well drilled in Suriname’s offshore Block 47 reached its total depth encountering “good quality reservoir but only minor oil shows.” Tullow said on 18 March 2021 in an official statement the Stena Forth drillship drilled the well […]
Tullow To Sale Assets In West Africa To Panoro
(Tullow, 9.Feb.2021) — Tullow Oil plc signed two separate sale and purchase agreements with Panoro Energy ASA (Panoro) for all of Tullow’s assets in Equatorial Guinea (the EG Transaction) and the Dussafu asset in Gabon (the Dussafu Transaction). Rahul Dhir, Chief Executive Officer of Tullow, and Les Wood, Chief Financial […]
Goliathberg Voltzberg North To Spud Offshore Suriname
(Energy Analytics Institute, 10.Nov.2020) — Ratio Suriname, an affiliate of Tel Aviv-based Ratio Petroleum announced the decision to drill the Goliathberg Voltzberg North (GVN) prospect in Suriname’s Block 47 during the first quarter of 2021. What follows is an update from Ratio related to its activities on Block 47 offshore […]
Stena Inks Deal For Tullow Suriname Well
(Energy Analytics Institute, 1.Sep.2020) — Stena Drilling inked a new contract with Tullow Suriname BV for the Stena Forth drillship to drill one well offshore Suriname in Block-47. Block 47 forms part of the Guyana-Suriname Basin and is located approximately 260 kilometers north of the Suriname coast. The Stena Forth […]
Tullow Peru Update: Blocks Z-67 And Z-68
(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 […]
Early Oil Pilot Scheme (EOPS) Ends In Kenya
(Tullow Oil, 13.Jul.2020) — After a successful two-year period and coinciding with the Early Oil Pilot Scheme (EOPS) contract expiry period, Tullow Kenya, together with its Joint Venture Partners Total and Africa Oil confirmed the end of the EOPS contract on 2 June 2020. The scheme had successfully served its […]
Tullow’s Performance For 2019 Was “Disappointing”
(Kaieteur News, 29.Mar.2020) — The Executive Board for British exploration company, Tullow is disappointed with the operational and financial performance as well as the overall executive leadership of Tullow’s business in 2019. This was noted by the operator’s Executive Chair, Dorothy Thompson, in her statement for the company’s 2019 Annual […]
Tullow Writes Off Jamaican Oil Exploration Licence
(Jamaica Gleaner, 20.Mar.2020) — Tullow Oil Plc has fully written off its oil exploration licence for the Walton-Morant Basin offshore Jamaica, on which it has taken a US$36-million hit. The write-off relates to what the company indicated in its most recent earnings report was the relinquishment of the Walton-Morant licence […]
Karoon Starts Drilling In Peru At Marina‐1 Well
(Karoon, 28.Jan.2020) — Karoon Energy Ltd announced the Stena Forth Drillship has commenced the drilling of the Marina‐1 exploration well located in Block Z‐38 Tumbes Basin, Peru. The wholly owned, Karoon subsidiary, KEI (Peru Z‐38) Sucursal del Peru is the operator and has a 40% net interest in Block Z‐38. […]
Guyana Searches For Firm To Trade Its Crude
(Reuters, 23.Jan.2020) — Guyana’s government next month plans to begin a search for an oil company or trading firm to market its share of the South American country’s crude, the director of the Department of Energy, Mark Bynoe, said in an interview. The government is entitled to a portion of […]
Diplomats Say Guyana Gov’t In Breach Of Constitution
(Reuters, 19.Sep.2019) — U.S. and European diplomats on Thursday declared Guyana’s government in breach of the country’s constitution until new elections are held and called on Guyanese President David Granger to “set an elections date immediately” or possibly face a cutoff of development funding. Guyana’s independent electoral body on Thursday […]
Eco Atlantic Spuds Joe-1 Well Offshore Guyana
(Eco, 27.Aug.2019) — Eco (Atlantic) Oil & Gas Ltd. said drilling of the Joe prospect has commenced offshore Guyana, the company’s second exploration well on the Orinduik Block. Joe-1 was spud at 14.45hrs (Local Guyana time) on 25 August 2019 using the Stena Forth drillship, which previously drilled the recently […]
‘The More Operators In Guyana’s Oil Fields The Better’
(Stabroek News, 20.Aug.2019) — Guyana is better off with more operators and countries involved in its oil fields, British High Commissioner to Guyana Gregory Quinn has said in wake of UK-based Tullow Oil’s recent offshore oil discovery. Tullow last week announced the discovery of oil in commercial quantities in its […]
Suriname Seeking Funds for Offshore Exploration
(Reuters, 16.Aug.2019) — Suriname’s state-owned oil company is planning a bond sale next year to finance offshore oil exploration, its chief executive said on Thursday, as it seeks to capitalize on growing hype over neighboring Guyana’s looming oil boom. The company, Staatsolie Maatschappij Suriname, would also consider listing some of […]
Tullow Says Jethro-1 Well Finds 55M Of Net Oil Pay Offshore Guyana
(Tullow, 12.Aug.2019) — Tullow Oil plc announces the results of its Jethro-1 exploration well, drilled on the Orinduik licence offshore Guyana by its wholly owned subsidiary Tullow Guyana B.V. The Jethro-1 was drilled by the Stena Forth drillship to a Total Depth of 4,400m metres in approximately 1,350 metres of […]
Jethro-1 Delivers The Goods For Tullow Offshore Guyana
(WoodMac, 12.Aug.2019) — The Jethro-1 well, drilled in the Orinduik block, offshore Guyana, has delivered for Tullow Oil, with chief executive Paul McDade saying the prospect could hold more than 100 million barrels of recoverable oil, subject to appraisal. Commenting on the discovery, Julie Wilson, director, global exploration, at Wood […]
Qatar Petroleum In Guyana Exploration Deal
(Trade Arabia, 5.Aug.2019) — Qatar Petroleum has entered into an agreement with French oil major Total for a share of exploration and production rights in two blocks offshore Guyana in Latin America. Under the agreement, Qatar Petroleum will hold 40 per cent of Total’s existing 25 per cent participating interest […]
Qatar Petroleum Enters Blocks In Guyana
(Qatar Petroleum, 29.Jul.2019) — Qatar Petroleum has entered into an agreement with Total for a share of exploration and production rights in two blocks offshore Guyana in Latin America. Under the agreement, which is subject to customary regulatory approvals by the government of Guyana, Qatar Petroleum will hold 40% of […]
Guyana To Boost Royalties On Future Oil Licenses
(Reuters, 3.Jul.2019) — Guyana is preparing to raise the take of the government in future oil licences, the director of the South American country’s Department of Energy said on Wednesday. U.S. energy giant Exxon, French group Total and Britain’s Tullow Oil are drilling wells offshore Guyana, where Exxon has discovered […]
Eco Reports Mobilization Of Stena Forth Drillship To Orinduik Block, Guyana
(Eco Atlantic, 10.Jun.2019) — Eco (Atlantic) Oil & Gas Ltd. announced mobilisation of the Stena Forth drillship which is now en route to Guyana from West Africa where it has been operating for Tullow. The drillship is expected to reach Eco’s Orinduik Block on or around 24 June 2019 and […]
Guyana Investigates Oil Block Leases Controlled By Exxon
(Oilprice.com, Tsvetana Paraskova, 23.May.2019) — The world’s newest offshore hotspot, Guyana, is in the early stages of a probe into how oil exploration rights were awarded for oil blocks that are currently controlled by ExxonMobil and Tullow Oil, Clive Thomas, director of Guyana’s State Assets Recovery Agency, told Bloomberg in […]
Guyana Oil Find Spurs Exploration Campaigns Among Neighbors
(Amsterdam News, Bert Wilkinson, 25.Apr.2019) — As Guyana, the Caribbean Community’s largest and most resource-rich nation, prepares to become an oil producer by the end of this year, American supermajor ExxonMobil is preparing to add a fourth drilling ship to its offshore fleet given the humongous amount of oil it […]
Eco (Atlantic) Seeks New Partner In Namibia As Tullow Focuses On Guyana
(ProactiveInvestor, 26.Oct.2018) — Eco (Atlantic) Oil & Gas Ltd has started to look for a new partner for the Cooper Block in Namibia after Tullow Oil pulled out. Tullow will now transfer its 25% working interest in Cooper to Eco, which own 57.5% stake as a result. “With more than […]
Guyana: The World’s Next Offshore Oil Hotspot
(Oilprice.com, Tsvetana Paraskova, 23.Oct.2018) — With population of fewer than 750,000 people, Guyana—a neighbor of Venezuela—has always depended on commodities. Sugar, gold, shrimp, timber, bauxite, and rice account for nearly 60 percent of this South American country’s gross domestic product (GDP). Now, Guyana is set to add another valuable commodity […]
France’s Total Enters Orinduik Block Offshore Guyana
(OffshoreEnergyToday, 13.Sep.2018) — French oil major Total has exercised its option to acquire a 25 percent working interest in the Orinduik block offshore Guyana after a competent persons report identified potential for almost three billion barrels of oil equivalent. Eco Atlantic, a partner in the Tullow-operated Orinduik block, said on […]
Tullow Oil to Drill First Guyana Well in 3Q:19
(Reuters, 5.Sep.2018) — Tullow Oil plans to drill its first well in the much-watched Guyana offshore basin in the third quarter of next year in its Orinduik licence bordering discoveries by Exxon, a spokesman said on Wednesday. Exxon and U.S. partner Hess Corp have said that more than 4 billion […]
Guyana’s Oil Reserves Are Larger Than Expected
(OilPrice.com, Julianne Geiger, 23.Jul.2018) – Guyana’s recoverable offshore oil reserves are larger than expected—by almost a billion barrels, Hess Corp CEO John Hess said in a Monday press release. Gross discovered recoverable resources for Hess’s Stabroek Block has been revised upward to 4 million barrels of oil equivalent—up from the […]
Uruguay to Adopt Process for Offshore Oil Blocks
(Reuters, Luc Cohen, 15.Jun.2018) – Uruguay will move toward a permanent offer process for offshore oil blocks as other Latin American countries have done, after an April auction failed to attract bids, Industry, Energy and Mining Minister Carolina Cosse said in an interview this week. The tiny South American country […]
Jamaica Encouraged by 3D Oil, Gas Surveys
(Amsterdam News, Bert Wilkinson, 24.May.2018) – Jamaica is fancying its chances of becoming the latest Caribbean Community nation after Guyana to find commercial quantities of oil and gas in the wake of encouraging indications from the most recent round of offshore surveys. Jamaican authorities said on the weekend that they […]
Total Enters Prolific Guyana Basin With Three Licences
(Total, 5.Feb.2018) — Total has signed agreements to acquire interests into two exploration licenses offshore Guyana, the Canje Block and the Kanuku Block. These agreements come after entering into an option agreement for the nearby Orinduik Block. Subject to the approval of relevant authorities, Total will thus own exploration rights […]
Shell Made Mistake Pulling Out of Guyana basin
(CaribbeanLife, Bert Wilkinson, 31.Jan.2018) — Now that Guyana’s oil and gas basin has been deemed as one of the hottest and most exciting prospects in the world, Shell Oil has to be regretting its decision to withdraw as an investment partner with United States giant ExxonMobil, which has so far […]
Hess Divest Interests In Equatorial Guinea
(Hess, 23.Oct.2017) — Hess Corporation entered into an agreement to sell its interests in offshore Equatorial Guinea to Kosmos Energy and Trident Energy for a total consideration of $650mn, effective 1 January 2017. “This sale is a further step in our strategy to focus our portfolio by investing in higher […]
Statoil Strengthens Its Position In Uruguay
(Statoil, 15.Feb.2016) — Statoil has signed a farm-in agreement with Tullow to acquire a 35% working interest in offshore exploration block 15 in the Pelotas basin, deepening its position in Uruguay. “With this transaction, we are increasing our exposure to the upside potential of this untested geological setting. This is […]