Tullow Oil drilling focus turns to Kenya after Norwegian failure
21 July 2014, 15:20
Nairobi - Tullow Oil is turning its focus to Kenya after a drilling prospects in Norway failed to yield fruit.
The oil and gas producer said it had plugged and abandoned a well in the Norwegian North Sea after it failed to find any hydrocarbons.
The company said it did not encounter hydrocarbons in the Lupus exploration well, located 35 kilometres southeast of the Oseberg South field in the North Sea.
It was the first well in production licence PL 507, Tullow said on Monday.
Tullow reported a $415 million pretax write-off in net exploration in the first half of 2014 due to dry holes drilled in Mauritania, Ethiopia and Norway over the past 6 months and various licence cancellations.
Tullow is now counting on new drilling projects planned in Kenya and Ethiopia for this year and next to improve its exploration performance.For the latest on national news, politics, sport, entertainment and more follow us on Twitter and like our Facebook page!
Kenya has been a center of positivity for the firm thus far, with prospects for drilling said to be well above 90% for the company.
The Turkana region is the main epicentre of drilling for the company in Kenya, as well as other parts of northern Kenya.