Breakthrough oil discovery at Wisting Central well

RNS Number : 3659N

Tullow Oil PLC

06 September 2013

 



News Release

Wisting Central well makes breakthrough oil discovery in Barents Sea offshore Norway

6 September 2013 - Tullow Oil plc ("Tullow") announces that 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.

Results of drilling, wireline logs and samples of reservoir fluids show that the well has encountered 50-60 metres 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 licence will be required.

The well was drilled by the Leiv Eiriksson semi submersible rig and is located approximately 170 kilometres northeast of the Skrugard/Johan Castberg discovery well and 310 kilometres north of Hammerfest. The well was drilled to a total depth of approximately 905 metres in a water depth of 373 metres. Following significant data acquisition, the rig will move to drill the deeper and independent Kobbe prospect in the same production licence and will not appraise this shallower discovery.

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

Angus McCoss, Exploration Director, Tullow Oil plc commented today,

"This is a major frontier light oil discovery for Norway, Tullow Oil and our coventurers. The Wisting Central wildcat well has opened the Hoop-Maud Basin by proving a new shallow play in the region. This discovery also demonstrates the effectiveness of leading edge exploration techniques, pioneered by Tullow's Norwegian exploration team, that combine shallow seismic and electromagnetic survey data in the search for oil. We look forward to pursuing the exciting exploration and appraisal follow up arising from this breakthrough oil discovery."

FOR FURTHER INFORMATION CONTACT:

Tullow Oil plc (London) ([phone]) Chris Perry (Investor Relations) James Arnold (Investor Relations) George Cazenove (Media Relations)

Citigate Dewe Rogerson (London) ([phone]) Martin Jackson Jack Rich

Murray Consultants (Dublin) ([phone]) Joe Murray Joe Heron

First House (Oslo) ([phone]) Geir Gjervan

Notes to Editors:

Tullow Oil plc

Tullow is a leading independent oil & gas, exploration and production group, quoted on the London, Irish and Ghanaian stock exchanges (symbol: TLW) and is a constituent of the FTSE 100 Index. The Group has interests in over 150 exploration and production licences across 25 countries which are managed as three regional business units: West & North Africa, South & East Africa and Europe, South America and Asia.

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For further information please refer to the Tullow website at www.tullowoil.com.

 

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