Tullow Oil announces successful well appraisal in Barents Sea

Tullow Oil said on Wednesday that it has successfully explored and appraised the Wisting South & Wisting West appraisal well in the Barents Sea, offshore Norway.

Results of drilling, wireline logs and samples of reservoir fluids show the well encountered an oil column of 22 metres in a 1,402 metres horizontal section with 1,250 metres of net light oil pay. Meanwhile, the main reservoir encountered was thicker than expected.

Tullow said the well results are expected to provide an increase of in-place volumes in the Central South and Central West segments and further reduce the overall uncertainty of resources in the PL537 licence where the Wisting complex sits.

Exploration director Angus McCross said: “This is a very successful appraisal and flow test of Wisting Central. While we are still assessing the positive volume impact across our significant cluster of discoveries in this area, it is clear that having encountered more light oil in excellent reservoirs, with very strong flow rates, this asset clearly offers valuable development potential."

At 0917 BST, Tullow shares were up 2.4% to 195.40p.