Tullow makes new oil discovery in Kenya
Tullow Oil has made a new oil discovery at the Erut-1 well in Block 13T in Northern Kenya.
FTSE 250
20,730.12
17:14 31/05/24
FTSE 350
4,562.25
17:14 31/05/24
FTSE All-Share
4,517.08
16:54 31/05/24
Oil & Gas Producers
9,258.21
17:14 31/05/24
Tullow Oil
39.14p
16:44 31/05/24
The well was drilled to a depth of 1,318 metres and cut a 25 metre interval at 700m and Tullow said the overall oil column for the field is considered to be 100 to 125 metres.
The Erut-1 well was drilled 10km north of the Etom-2 well and shares important characteristics, with fluid samples taken and wireline logging all indicating the presence of recoverable oil.
Tullow said Erut-1 successfully shows that oil has migrated to the northern limit of the South Lokichar basin and has de-risked multiple prospects in this area which will now be considered in the partnership's future exploration and appraisal drilling programme.
Exploration director Angus McCoss said: “This is an exciting discovery from a bold exploration well that proves that oil has migrated to the northern limit of the South Lokichar basin. This extends the known hydrocarbon limits of the basin beyond the successful Etom discovery into the underexplored northern part of the basin where we have several undrilled prospects.
“Following the scheduled appraisal wells at Amosing-6 and Ngamia-10, further exploration drilling of this area is now being planned."