Tullow Oil plc which has a 60% working interest in the Orinduik block offshore Guyana, announced on Thursday that it has agreed with Discover Exploration Ltd to farm into Blocks 35, 36 and 37, offshore the Union of the Comoros in the Indian Ocean.
Following the completion of this transaction, which requires Government approval, Tullow will operate the three blocks and hold a working interest of 35%. The blocks comprise an area of 16,063 sq km with a gross unrisked resource potential of up to 7 billion barrels of oil. A 3D seismic survey is planned for 2019, the company said.
Tullow has said it is confident of stronger crude output next year due to increased drilling in its West African assets and hopes to strike oil at its block in Guyana.
The company will also continue to invest in its development assets in Kenya and Uganda along with undertaking extensive exploration work in its Cote d’Ivoire and Mauritania licenses, McCoss said on the sidelines of the Africa Oil Week conference.
The Orinduik block offshore Guyana could hold almost 3 billion barrels of oil equivalent of recoverable oil and gas, raising the stakes for closely-watched wildcat drilling planned for next year.
The block lies adjacent to ExxonMobil’s Stabroek license where the oil major has already announced a string of large oil finds.