Tullow makes first oil discovery on Orinduik license offshore Guyana

12/08/2019 09:03 Oil Market

news

Tullow Oil has made an oil discovery at its Jethro-1 exploration well, drilled on the Orinduik license offshore Guyana.

The Jethro-1 was spud in early July, using the Stena Forth drillship. It was drilled to a Total Depth of 4,400m meters in approximately 1,350 meters of water.

 

Tullow said on Monday that evaluation of logging data confirms that Jethro-1 is the first discovery on the Orinduik license and comprises high quality oil bearing sandstone reservoirs of Lower Tertiary age.

 

The well encountered 55m of net oil pay which supports a recoverable oil resource estimate which exceeds Tullow’s pre-drill forecast. Tullow will now evaluate the data from the Jethro discovery and determine appropriate appraisal activity.

 

According to Tullow, this discovery significantly de-risks other Tertiary age prospects on the Orinduik license, including the shallower Upper Tertiary Joe prospect which will start drilling later this month following the conclusion of operations at the Jethro-1 well.

Source: offshoreenergytoday.com

Daily (18.09.2019): NBP spot retreated by 4.9% on Friday, amid softer oil prices and lower supply risks

18/09/2019 11:38:00

The announcement by Saudi energy minister on Tuesday about the full restoration of Saudi Arabia’s oil production capabilities, after the largest supply disruption in 50 years, stopped the surge and led to a fallback in crude oil prices. Potential releases from strategic oil reserves in the U.S. and other countries added pressure on prices. Consequently, Brent crude dropped back by 6.5% to $64.55 a barrel, while WTI futures retreated by 5.7% to $59.34 a barrel.

<READ MORE

Total Eren to build 100-MW solar farm in Uzbekistan

18/09/2019 08:50:00

Paris-based independent power producer Total Eren on Friday signed an agreement to invest up to EUR 150 million (USD 166m) in the construction of a solar photovoltaic (PV) power plant in the Republic of Uzbekistan.

READ MORE

US, Russia eye potential nuclear power project in Slovenia - PM Sarec

18/09/2019 08:47:00

Investors from the US, Russia and other countries are interested in the potential construction of a second unit at Slovenia's Krsko nuclear power plant, prime minister Marjan Sarec has said.

READ MORE