Tullow Oil has announced its Zaedyus exploration well off the coast of French Guiana has struck oil.
Tullow Oil said that its objective in drilling the Zaedyus well, which encountered 240 feet of net oil pay in two turbidite fans, was to test whether its productive Jubilee field off the coast of Ghana in West Africa was mirrored on the other side of the Atlantic.
A Tullow Oil press release said, "This discovery therefore opens a new hydrocarbon basin within which several neighboring prospects have been mapped."
An appraisal of the Zaedyus well test results are underway, after which Tullow Oil will decide whether to proceed with follow-up exploration activities.
Tullow Oil Exploration Director Angus McCoss said, "The discovery at Zaedyus has proved the extension of the Jubilee-play across the Atlantic and made an important new discovery in French Guiana. Tullow has built a commanding and unique acreage position in South America and this result marks the start of a significant and potentially transformational long-term exploration and appraisal campaign in the region."
Tullow Oil, with a 27.5 percent share, operates the Guyane Maritime license, along with partners Shell with 45 percent, Total, which has 25 percent of the concession and Northpet, with 2.5 percent.
By. Charles Kennedy, Deputy Editor OilPrice.com
Charles is a writer for Oilprice.com More