Tullow says Suriname well encountered only minor oil shows

Tullow Oil said on Thursday that the Goliathberg-Voltzberg North exploration well offshore Suriname has reached total depth and encountered good quality reservoir but only minor oil shows.

The FTSE 250 oil and gas exploration and production group said the well was drilled to a total depth of 5,060 metres in 1,856 metres of water and will now be plugged and abandoned.

"Tullow and its partners will then assess the data gathered from the well and carefully consider next steps," it said.

Tullow is the operator of Block 47 with a 50% stake, while Petroandina Resources holds 30% and Ratio Suriname the remaining 20%.