Tullow Oil Completes 3D Survey Over Comoros

Tullow has announced that it has completed a 3,000 sq km 3D seismic survey over its three blocks 35, 36 and 37 in the Comoros.

Tullow Oil acquired its 35% interest in Comoros Blocks 35, 36 and 37 from Discover Exploration in November 2018 and is the operator having agreed to partly carry Discover for a 3D seismic survey and the first exploration well.

Discover acquired Bahari Resources entire issued shares after the signing of a binding agreement to take over its 40% joint venture partner in the Comoros PSC.

The Comoros PSC covers a deep water area of 16,063 km2 (circa 4 million acres) and is outboard of circa 200 trillion cubic feet (“TCF”) of gas in place discovered in Rovuma Areas 1 and 4, offshore Mozambique. The joint venture partners of Rovuma Areas 1 and 4 include Anadarko Petroleum Corp., China National Offshore Oil Corp. (CNOOC), Eni S.p.A., ExxonMobil Corp., Mitsui & Co. and PTT Exploration and Production (PTTEP).

In a Competent Persons Report dated August 2018, ERCE, the UK-based independent energy consulting group, estimates that two partly stacked prospects in Comoros blocks 35, 36 & 37 together contain gross mean unrisked prospective resources of circa 7.1 billion barrels of oil (+1.1 TCF of associated gas) in an oil case or 49 TCF of non-associated gas (+2.3 billion barrels of condensate) in a gas case.

Following ratification of the Comoros PSC in 2014, Discover and Bahari acquired and interpreted circa 3,900 km of 2D seismic data, and conducted a range of exploratory studies. This farm out to Tullow marks the successful completion of the first exploration period.