Tullow Oil makes breakthrough oil discovery at Wisting central well

9/6/2013

Tullow Oil makes breakthrough oil discovery at Wisting Central in Barents Sea

BY IAN WALKER

LONDON -- Tullow Oil said the Wisting Central exploration well 7324/8-1, offshore Norway, has made the first ever oil discovery in the Hoop Maud basin in the Barents Sea.

Well has encountered 50-60 m of net light oil pay in good quality relatively shallow middle-to-lower Jurassic reservoir rocks.

Following evaluation of the results, further delineation of the discovery and exploration drilling in the license will be required.

Well was drilled to a total depth of 905 m in a water depth of 373 m.

Following significant data acquisition, the rig will move to drill the deeper and independent Kobbe prospect in the same production license and will not appraise this shallower discovery.

Wisting Central discovery is located in license PL537 in which Tullow has a 20% interest; OMV are the operator with a 25% interest while Idemitsu 20%, Statoil 15% and Petoro 20% are also partners.

Dow Jones Newswires

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