Polarcus Wraps Up Jamaica Shoot for Tullow and UOG
- Business & Finance
Polarcus has completed seismic acquisition program on the Walton Morant licence offshore Jamaica for Tullow and its partner United Oil & Gas (UOG).
Seismic vessel Polarcus Adira carried out a 2,250 square kilometers 3D seismic survey which includes the Colibri target in the Walton Morant licence.
United holds a 20% equity interest in the 32,065 square kilometers Walton Morant licence, with the remainder held by the operator, Tullow.
The 3D seismic survey, the first in Jamaica, was completed safely, under-budget, approximately a week ahead of schedule, UOG said.
The survey is centred on de-risking a number of highly prospective Cretaceous and Tertiary aged clastic and carbonate reservoir targets that have previously been mapped by Tullow on reprocessed and reinterpreted 2D seismic data. As mentioned these include the Colibri target, which has been estimated to hold gross unrisked mean-case prospective resources of over 200MMstb.
The technical case for Colibri is further strengthened by the recent identification of an active thermogenically derived offshore oil seep to the south of the structure.
UOG said it expects to receive a fast-tracked version of the data by mid-July 2018 with the final processed data sets due to be available later in the year.
Subject to the results, an exploration well could be drilled in 2020-2021, with success significantly de-risking numerous follow-up structures that have already been identified across the licence.