A substantial prospect inventory
in the Mauritanian offshore with significant oil potential has been built up by
Tullow across a range of emerging plays. The
company's plans for Mauritania were outlined at Africa Oil Week. Ahead of
drilling and planned 3D seismic acquisitions, Tullow has decided to dilute part
of its equity positions in the C-3, C-10 and C-18 licences. These licences
offer an excellent strategic opportunity to gain access to underexplored oil
plays with good fiscal terms.
Tullow
holds an operated position in all three licences and is making up to 40 per
cent interest available in each block. The licences cover and areas of more
than 30,000 sq.km with water depths ranging from 100 to 2,000 meters and
contains variety of plays to be tested, from inboard shallow water carbonates
and clastics to deeper, undrilled Cretaceous fairways. There is only one firm
well commitment on C-10 and a seismic commitment on C-18.
In the
currently identified prospect inventory there is a multi-billion barrel upside
potential with more to be defined by the current 2D seismic interpretation in
C-18 and C-3. This highly prospective acreage provides an excellent strategic
opportunity for a material position on C-18 and C-3. This highly prospective
acreage provides an excellent strategic opportunity for a material position in
a proven oil province. (Oil Review Africa)
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