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. In early 2016, Tullow was awarded a 60% operated interest in the Orinduik licence, a 1,776 square kilometre block offshore Guyana.
In early 2018, Tullow agreed to increase its equity share in the Kanuku licence, offshore Guyana, from 30% to 37.5% in a farm-in deal with Repsol. The deal is subject to Government approval.
exploration & appraisal
Following acquisition of new 3D seismic on the licence in 2017, technical and commercial ranking of potential prospects across both the Kanuku and Orinduik licences is ongoing. The exploration team continues to see significant potential across multiple prospects in this area and is working to define which of these prospects, up-dip from Exxon’s Liza discovery, will be matured for drilling in 2019 and 2020.