Tullow Oil said today that it remains “fully committed” to Suriname after a wildcat well off the country came up dry.
The London-headquartered firm said the Araku-1 well offshore Suriname had encountered “no significant reservoir quality rocks” and that it was being plugged and abandoned.
The well was drilled using the Noble Bob Douglas drillship.
Tullow operates Block 54 with a 30% interest alongside joint venture partners, Statoil (50%) and Noble Energy (20%).
Tullow exploration director Angus McCoss said: “The Araku-1 well was an ambitious wildcat exploration well that was drilled efficiently and at very low cost.
“While we have not made a commercial discovery, we are encouraged by recovering gas condensate from the well and remain fully committed to exploration in Suriname and Guyana.
“Tullow continues to pursue the considerable prospectivity and potential of this large licence and the wider region. We will now consider our next steps with our Joint Venture partners.”