Tullow Oil not likely to drill any Guyana wells this year

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UK-based Tullow Oil, reeling from disappointing results from its offshore campaigns in the South American country of Guyana, may not drill anymore wells there this year.

The company said exploration write-offs of approximately $1.5 billion dollars include the Jethro, Joe and Carapa wells where a combination of high sulfur (Jethro & Joe) and low volumes discovered (Carapa) have made commercialization unfeasible.

Asked about 2020 drilling plans for Guyana on Wednesday, Offshore Engineer quotes Mark MacFarlane, Tullow’s COO as saying, “…in terms of further Guyana drilling this year, we really do need to integrate that real-world data that we’ve got from our three wells into our various models. So unlikely that we will be drilling any Guyana wells this year, but we need to let that technical work run its course before we decide what will be our next well and when would be that next well.”

Tullow Oil now plans to integrate the results of the three exploration wells drilled in these adjacent licences into its Guyana and Suriname geological and geophysical models before deciding the future work programme.

“So, three oil discoveries but each with their challenges…. we’ll now look at the data from the wells, integrate that with seismic data and then decide, with our partners, where to drill next,” George Cazenove, Tullow Oil’s Head of Communications told OilNOW earlier this month.