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.
Tullow expanded its acreage position in Suriname in the second half of 2018 by signing a 100% operated interest in Block 62. This is the Group’s third licence and it sits adjacent to Blocks 47 and 54. Tullow also completed a farm-down of a 30% interest in the Block 47 licence to Pluspetrol.
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.
In Suriname, Tullow is close to finalising the submission of an ESIA with the drilling of the Goliathberg North prospect planned for the second half of 2020.
In it's new signing, Block 62, Tullow plans to carry out initial geological work on the area ahead of capturing 2D seismic data.