Independent explorer Tullow Oil is lining up a string of exploration projects this year, including targeting the 500 MMbo Araku prospect offshore Suriname in 2H this year. Other projects include seismic campaigns in Ghana, Jamaica and Uruguay.
The Araku prospect, in Block 54, has been described as high impact. Tullow, operator on Block 54, with partners Statoil and Noble Energy, says it is a large structural trap and has been significantly de-risked by a 4000sq km 3D seismic survey carried out in 2015. A rig is currently being sourced for the well, which is expected to cost $14 million net to drill.
The Block 54 contract area is 8824sq km and is about 200km offshore in the Suriname-Guyana Basin.
In Guyana, Tullow is planning to acquire 3D seismic data over the offshore Orinduik license, awarded in 2016, and Kanuku license, which are up-dip of ExxonMobil’s Liza oil discovery. The two programs are expected to cover up to 6000sq km and will enable evaluation of attractive leads mapped on existing 2D seismic data.
Offshore Uruguay, a 2500sq km 3D seismic program started in January 2017 to capture data over high-quality leads identified in Block 15 in the Pelotas Basin.
Offshore Jamaica, following the completion of a drop core and seep study in the Walton Morant blocks that identified a live oil seep, Tullow will acquire a further 680km of 2D seismic data before considering the acquisition of a 3D seismic survey.
Jubilee
Meanwhile the firm is seeking approval for a Greater Jubilee Full Field Development Plan, which would extend field production and increase reserves on the Jubilee field offshore Ghana. An initial plan was submitted in December 2015, and has since been redesigned given the current oil price environment, to reduce the overall capital requirement, and address comments made by the Government of Ghana on the original plan. Approval of the plan by the Government of Ghana is now expected in mid-2017.
TEN
Production testing and initial results from the TEN field, also offshore Ghana, has been incline with expectations, but the firm says it is having trouble managing pressures in the Enyenra reservoir and no new wells can be drilled on the development until after a maritime border dispute (with Ivory Coast) ruling, expected in late 2017.
Gas production from the TEN fields is currently being re-injected. A gas export line between the TEN and Jubilee developments is expected to be connected this month with gas export expected to start later in 2017.
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