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Regional News

November 10, 2010
Guyana basin exploration heats up
Offshore Magazine

LONDON -- Tullow Oil has confirmed that a well will be drilled on the deepwater Zaedyus prospect offshore French Guiana during 1Q 2011.

In September, Shell exercised its option, pending government approvals, to raise its interest in the Guyane Maritime block containing Zaedyus by 12% to 45%. This will reduce Tullow’s interest to 27.5% interest.

Tullow will be carried by both Shell and Total for much of the costs associated with newly acquired 3D seismic and the forthcoming well. The seismic data set has identified numerous other prospects analogous to the Jubilee field offshore Ghana.

Exploration activity continues farther along the Guyana basin. In late September, Tullow signed a new deepwater license offshore Suriname (block 47), and will look to acquire a 2,000-sq km (772-sq mi) 3D program in 2011.

Offshore Guyana, the operator of Tullow’s permit has secured a rig to drill the Jaguar prospect, due to spud early next spring.

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