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Tullow Oil to abandon well offshore Peru after no oil found

Reuters - UK Focus
·1-min read

Feb 17 (Reuters) - Tullow Oil will plug and abandon its Marina-1 well offshore Peru after drilling reached total depth with no oil encountered, it said on Monday.

"The well tested the La Cruz and Mal Pelo formations where minor gas shows were encountered," Tullow said in a statement. "However there were no indications of hydrocarbons in the primary targets in the Tumbes formation."

The London-listed company holds a 35% interest in the well, while Australia's Karoon Energy holds a 40% operating equity interest through a subsidiary and Pitkin Petroleum owns the remaining 25%. (Reporting by Yadarisa Shabong in Bengaluru; Editing by Jan Harvey)