Tullow Oil plugs Buzio-1 well in Mozambique

2nd Sep 2013 07:06

Tullow Oil has plugged and abandoned its Buzio-1 exploration well offshore Mozambique after failing to encounter hydrocarbons.The well, which is the second deepwater exploration well in Area 2, was drilled to a total depth of 3,333 metres in water depths of 1,534 metres. Tullow said good quality water bearing reservoir sandstones were found in targeted stratigraphic traps in channel systems of Tertiary and Upper Cretaceous ages.Angus McCoss, Exploration Director, said: "Having encountered hydrocarbons with the Cachalote-1 well, we have acquired valuable information from the Buzio-1 dry hole. We will now combine the data from both offshore Mozambique wells with our extensive seismic in this licence area and determine our next steps."Tullow owns a 25% interest in Areas 2 and 5 in the Romuva Basin, offshore Mozambique. Statoil has a 40% holding as operator while INPEX has a 25% non-operated interest. RD