UK multinational Tullow Oil has begun drilling its first well on the Orinduik Block, which potentially holds over 3.8 billion barrels of oil equivalent reserves. The Orinduik block is 1,800 square kilometres (444,789 acres).
The company noted that the Stena Forth Drillship was contracted to drill the Jethro Lobe well first then the rig will move to another section of the block to begin drilling the second exploration well called Joe. This is expected to be done in mid-July 2019. The Joe well is located in approximately 650 meters of water.
This news agency understands that Joe potentially holds 150 million barrels of oil equivalent resource and is an Upper Tertiary target which has a 43.2% chance of success, as estimated in the recently published independent report produced by Gustavson Associates.
While Tullow and its two other contractors on the block, Total and Eco Atlantic, are three years ahead of their work programme, there are other firms which are poised to drill wells this year.
One well is planned for the Kanuku block by Repsol and Tullow Oil.
The Corentyne Block also has one well planned for drilling by its operators CGX and Frontera Energy.
The Canje block will also see one well being drilled by ExxonMobil, Total JHI, and Mid-Atlantic.