Eco (Atlantic) Oil & Gas Ltd V.EOG

Interview with Tullow CEO

[kento]

Tullow promises strong local content policy should wells be successful

May 2, 2019

…says small, medium-scale local companies to be included in development phase

 
2019 plans
Tullow had in February announced it was bringing forward its drilling programme from the previously scheduled end of the year to the second quarter. It had announced that the Jethro prospect would be drilled in June.
On the other hand, its Carapa prospect in Kanuku will be drilled in the third quarter. It is understood that the net cost of the Jethro well is US$30 million, while the Carapa well will cost US$20 million.
Tullow’s partner in the Orinduik block, Eco Atlantic, had announced that drilling on the Joe prospect will begin in mid-July of this year. They had announced that the Stena forth drill ship will move directly to the Joe, after it finishes drilling the Jethro Lobe Well in the Orinduik block.
It is understood that the Joe is located in approximately 650 meters of water and will cost Eco approximately US$3 million to drill. A recently published report from international company Gustavson Associates has estimated that the well has a 43.2 per cent chance of success.
The Orinduik oil block is just a few kilometres from Exxon’s discoveries in the Liza and Payara fields. It is under the administration of Eco Guyana and Tullow, who signed a 10-year Petroleum Prospecting licence and Production Sharing Agreement with the Guyana in 2016 French firm Total E&P Activities Petrolieres entered the fray in 2017; partnering with Eco with the option to get a 25 per cent share in the block.