Tullow Oil today reduced oil estimates for its Paon prospect off the Ivory Coast after a second appraisal well came up dry.
The company said its latest appraisal well on the licence – drilled 15km south-west of the Autruche light oil discovery made last year – encountered water.
Tullow says it will now plug and abandon the second appraisal well.
“The Paon-2A well has efficiently identified the likely depth of the oil water contact and we are reviewing the resource range and our future monetisation options,” said Tullow Oil exploration director Angus McCoss.
“The well did not encounter oil at this location, reducing the upside volume potential associated with the Autruche field. However, including the up-dip potential above Paon-1X, the total hydrocarbon column of the field is inferred to be up to 700 metres.”