In Namibia Tullow has exploration interests in two operated offshore licence.
Exploration & Appraisal
In September 2018, Tullow announced the results of the Cormorant-1 well offshore Namibia. The well encountered non-commercial hydrocarbons and has since been plugged and abandoned. Gas signatures, indicative of oil, were encountered in the overlying shale section, supporting the concept of a working oil system in the area. The combination of an efficient well design, efficient operations and a farm-out in 2017 resulted in net expenditure of $3 million. Data gained from the well, in combination with high quality 3D seismic data, will be used to evaluate next steps for the Group’s Namibian acreage in PEL-37. Separately, Separately in May 2019 Tullow acquired a 56% interest in off shore Block PEL 90 from Calima Energy, the deal is subject to the satisfaction of conditions precedent, including Government approval.