The Jethro-1 discovery has confirmed the Tertiary play in Guyana, proving Tullow’s geological model and verifing the UK/Irish explorer’s seismic interpretation of the Guiana Basin. The well is Tullow’s first in Guyana and is the first discovery outside ExxonMobil’s prolific Stabroek block, which contains over 5.5 Bboe of in place reserves.
The exploration and production of hydrocarbons in the Caribbean has been somewhat overlooked in recent times despite its close proximity to major oil producing areas.
Tullow announced on 24th September that the Cormorant Well in PEL 37 (Tullow Oil (35%), ONGC Videsh (30%) Pancontinental (20%), Africa Energy (10%) and Paragon Oil and Gas (5%)) will be plugged and abandoned. Since spud the Ocean Poseidon has been on location for only 20 days, some 2 weeks ahead of schedule.
