The well is located in Offshore Area 2 in the Rovuma Basin in northern Mozambique, near the huge gas discoveries made by operators ENI and Anadarko.
Statoil found some gas in the sandstone, but not in an economically viable amount.
Statoil is the operator in Offshore Areas 2 and 5. Its partners are INPEX (25 per cent stake), Tullow Oil (25 per cent) and the publicly owned Mozambican Hydrocarbon Company ENH (10 per cent).
According to Tullow’s Angus McCoss, “the potential for discovering oil in this region remains after we encountered wet gas shows in the deeper sidetrack. We will integrate this valuable data into our regional model to improve our chances of unlocking the oil play potential offshore Mozambique”.
Tullow also announce that it has abandoned an exploration well in French Guiana. The company’s share price fell by 7.46 per cent on Tuesday morning following these announcements.
Post published in: Africa News