Tullow Oil discovers oil at offshore Norwegian site

Tullow Oil has announced the discovery of oil at the Wisting Central exploration well, offshore Norway, the first ever oil discovery in the Hoop-Maud Basin in the Barents Sea (release).

Results of drilling, wireline logs and samples of reservoir fluids show that the well has encountered 50-60 metres of net light oil pay in good quality relatively shallow Middle to Lower Jurassic reservoir rocks. Following evaluation of the results, further delineation of the discovery and exploration drilling in the licence will be required.

Angus McCoss, exploration director, Tullow Oil plc commented today:

This is a major frontier light oil discovery for Norway, Tullow Oil and our coventurers. The Wisting Central wildcat well has opened the Hoop-Maud Basin by proving a new shallow play in the region.

This discovery also demonstrates the effectiveness of leading edge exploration techniques, pioneered by Tullow's Norwegian exploration team, that combine shallow seismic and electromagnetic survey data in the search for oil.

We look forward to pursuing the exciting exploration and appraisal follow up arising from this breakthrough oil discovery.