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Tullow lines up South America targets

LONDON/GUYANA –Tullow Oil has provided an update on its exploration plans off the north coast of South America. The company is pursuing play types similar to its deepwater Jubilee field offshore Ghana.

In the southeastern part of the Guyana Maritime block off French Guiana, numerous leads have been identified.

Currently the partners are processing an interpreting 2,500 sq km (965 sq mi) of 3D seismic, acquisition of which was completed in February. The aim is to spud a well around year-end on the Zaedyus prospect.

Off neighboring Guyana, 3D seismic data acquired early last year has revealed various prospective structures in the Upper Cretaceous and Tertiary intervals. Here the partners will look to drill the Jaguar prospect, again starting around end-2010.

In May, Tullow signed a Heads of Agreement with state oil company Staatsolie for block 47, a 2,369-sq km (914-sq mi) deepwater exploration license offshore Suriname. The parties are moving towards finalization of a production-sharing contract.

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