Tullow Oil announces major oil discovery offshore Norway

6th Sep 2013 07:41

Tullow Oil has revealed that the Wisting Central exploration well has made the first ever oil discovery in the Hoop-Maud Basin in the Barents Sea offshore Norway.The oil and gas explorer said the well, which was drilled to a total depth of 905m and a water depth of 373m, had discovered 50m to 60m of net light oil pay in good quality relatively shallow middle to lower Jurassic reservoir rocks. Tullow Oil owns a 20% stake in the licence where the oil was found.Angus McCoss, Exploration Director for the FTSE 100 company, said: "This is a major frontier light oil discovery for Norway, Tullow Oil and our coventurers."The Wisting Central wildcat well has opened the Hoop-Maud Basin by proving a new shallow play in the region."TB