Tullow hits oil off Ivory Coast

07 June 2012, Sweetcrude, ABIDJAN - Tullow Oil of the United Kingdom said on Thursday it has struck a sizeable volume of quality oil at a deep-water exploration well off the West African country, Ivory Coast.

The company said the discovery was made with the Aidan Heavey-led explorer, which hit 31 metres of net oil at the Paon-1X well on the CI-103 licence off Ivory Coast.

The find was made in a Turonian fan system with a 74-metre gross interval in Tubidite sands.

Ocean Rig’s semi-submersible drilling rig Eirik Raude drilled the well to a total depth of 5090 metres in water depth of 2193 metres.

Tullow operates the block with a 45% stake with Anadarko in for 40% and Ivorian company Petroci holding the balance.

Tullow’s exploration director Angus McCoss commented: “The discovery of light oil in our first well in CI-103 extends the proven play for oil westwards from our successes in Ghana and is encouraging for our future exploration efforts elsewhere in this licence. We look forward to further drilling in CI-103 during 2013.”

On the nearby CI-105 block, Tullow revealed that in April that operator Anadarko had found oil shows at the Kosrou-1 exploration well, also drilled by the Eirik Raude.

β€œIt intersected 90 metres of reservoir quality sandstones with oil shows in the primary target and over 120 metres in total in the well,” Tullow said at the time.

Anadarko operates the block with a 50% share while Tullow is in for 22%, Petroci for 15% and Thani for 13%.