Shell confirms deepwater oil discovery offshore French Guiana
As part of the Tullow-operated joint venture, Shell today
confirms an oil discovery in the Guyane Maritime permit approximately
150-kilometers offshore French Guiana.
The
GM-ES-1 well is being drilled in a water depth of over 2,000 meters and
to date has drilled to a depth of 5,711 meters. The well has
encountered over 70-meters of net oil pay in two objectives. The joint
venture plans to drill ahead to the planned target depth.
“We are
pleased with the preliminary results of this first ever deepwater well
offshore French Guiana,” said Dave Lawrence, Shell's executive vice
president Exploration and Commercial. “We are early in the evaluation,
but the initial results are encouraging for this new play. The joint
venture will continue to drill ahead, evaluate the well results, and
determine next steps.”
Shell acquired an initial equity interest
of 33% in the joint venture in 2009 and increased its equity interest to
45% in 2010, subject to government approval. The joint venture is
currently operated by Tullow (27.5%) with additional equity interest
held by Total (25%) and Northpet (2.5%), a company owned 50% by Northern
Petroleum plc and 50% by Wessex Exploration plc.
Enquiries
Shell Media RelationsInternational, UK, European Press: +31 70 377 3600
Shell Investor RelationsEurope: + 31 70 377 3996
United States: +1 713 241 2069
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