Tullow Oil PLC (LON:TLW) told investors that the Goliathberg-Voltzberg North exploration well, offshore Suriname, found good quality reservoir but only minor oil shows.
The well was drilled by the Stena Forth drillship, down to a depth of 5,060 metres, in 1,856 metres of water. It will now be plugged and abandoned.
Tullow said that along with its partners the well data will be assessed before next-steps are “carefully considered”.
The company owns a 50% stake in the exploration project, alongside Petroandina Resources and Ratio Suriname which hold 30% and 20% respectively.