The Tullow Oil company today announced another oil find in Guyana.
In a statement, the company said the discovery was made at the Carapa-1 exploration well, which was drilled on the Kanuku licence offshore Guyana.
The company has encountered approximately four metres of net oil pay based on preliminary interpretation.
The announcement of the discovery by Tullow comes just weeks after the Exxon company started its oil production in Guyana and made its own 15th discovery.
According to Tullow, preliminary results of drilling, wireline logging, pressure testing and sampling of reservoir fluid indicate the discovery of oil in Upper Cretaceous age sandstone reservoirs.
Rig site testing has indicated that the oil is 27 degrees API with a sulphur content of less than 1%. A detailed laboratory analysis of the oil quality will follow in due course.
According to Tullow’s Chief Operating Officer, Marck Macfarlene, “the Carapa-1 result is an important exploration outcome with positive implications for both the Kanuku and Orinduik blocks. While net pay and reservoir development at this location are below our pre-drillestimates, we are encouraged to find good quality oil which proves the extension of the prolific Cretaceous play into our acreage”.
He said the company will now 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.
Tullow said the Carapa oil discovery suggests the extension of the Cretaceous oil play from the Stabroek licence southwards into the Kanuku licence.
Repsol Exploración Guyana, S.A. is the operator of the Kanuku block with a 37.5% stake. Tullow Guyana B.V. also holds a 37.5% stake with Total E&P Guyana B.V. holding the remaining 25%.