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Wednesday, July 24, 2013
Statoil and Tullow Oil Corp. struck out with the drilling of a well offshore Mozambique. The pair had hoped their Cachalote-1 exploration well would be a hit and discover oil; unfortunately their hopes were dashed.
The well was drilled off the coast of Mozambique near where both Anadarko Petroleum and ENI have made big finds. While Tullow said in a statement that the well did encounter gas, it was not in commercial quantities and no oil was encountered.
“The potential for discovering oil in this region remains,” said exploration director Angus McCoss. “We will integrate this valuable data into our regional model to improve our chances of unlocking the oil play potential offshore Mozambique.”
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