Director, Department of Energy, Dr. Mark Bynoe, today, announced that UK-based Tullow Oil plc’s (Tullow) Joe-1 exploration well has discovered a new Upper Tertiary oil play in the Guyana basin.
This is the second find of oil in two different wells operated by Tullow, in less than six weeks, a statement from the Ministry of the Presidency said this morning.
“The Co-operative Republic of Guyana continues to be encouraged by the prolific rate of discovery in our country. Every Guyanese can be assured that the Government will continue to work conscientiously to pursue the most effective and efficient marketing strategies of Guyana’s crude entitlement to transform our economy and to implement sustainable development programmes from which all Guyanese can benefit,” Bynoe said.
The Joe-1 exploration well was drilled by the Stena Forthdrillship to a total depth of 2,175 metres in water of 780 metres. The evaluation of logging and sampling data affirmed that Joe-1 has encountered 14 metres of net oil pay in high-quality oil bearing sandstone reservoirs of Upper Tertiary age, the statement added.