In September 2010, Tullow announced that it had signed a Production Sharing Contract with Staatsolie in relation to Block 47, a 2,369 sq km deepwater exploration licence where there is the potential to extend the Jubilee play from West Africa across the Atlantic to Suriname, where it has done so in French Guiana.
In the second half of 2013, Tullow was awarded a 50% operated interest in Block 54 jointly with Statoil. In October 2015, Tullow completed a 20% farm out of Block 54 to Noble for a carry, leaving Tullow with a 30% interest and retained operatorship.
Exploration & Appraisal
In October 2017, the Araku-1 exploration well in Suriname was drilled to a total depth of 2,685 metres and no significant reservoir quality rocks were encountered. The well has been plugged and abandoned. Logging and sampling proved the presence of gas condensate, which in combination with high quality 3D seismic data, has de-risked deeper plays which offer significant future exploration potential in the Group’s acreage. See full Araku Press Release.