Shell fails to find oil with Tullow in French Guiana well

Shell fails to find oil with Tullow in French Guiana well

BY EDUARD GISMATULLIN

HAGUE (Bloomberg) -- Royal Dutch Shell and Tullow Oil failed to find oil or natural gas in their last planned exploration well off French Guiana, a partner said. The companies drilled the GM-ES-5 well to a total depth of 6,460 m, Northern Petroleum said in a statement. The well will be plugged and abandoned.

“Reservoir sequences were encountered as expected, but with no evidence of hydrocarbons,” Northern Petroleum said. “Once the drill ship, the Stena ICEMax, has completed the abandonment operations it will move to a location outside French Guiana.”

The result marks the fourth unsuccessful well off the Latin American country, where Tullow made the first oil find with its Zaedyus well in 2011. The Shell-led joint venture, which also includes Total and Wessex Exploration, will suspend drilling until 2015, Northern Petroleum said.

Tullow said in a separate statement that the GM-ES-5 well had reached its target depth and “evaluation operations are ongoing.”