In the second quarter of 2013, Tullow reached an agreement with Repsol to secure a 30% interest in the newly defined Kanuku Block offshore Guyana. The transaction was completed in December 2013 following Government approval. Repsol is the Operator with 70% equity and Tullow 30% equity.
exploration & appraisal
Tullow and its Partners continue to evaluate and map prospectivity in the offshore Kanuku licence and an 18 month extension has been requested to allow a new 3D survey to be acquired. In early 2016, Tullow was awarded a 60% operated interest in the Orinduik licence, a 1,801 square kilometre block offshore Guyana. Both of Tullow’s Guyana licences sit close to Exxon Mobil’s ‘Liza’ oil discovery which was announced in 2015.