Tullow Oil strikes oil in Guyana

Tullow Oil has announced they have made a major discovery after they started drilling off the coast of Guyana.

Paul McDade the chief executive said the Jethro-1 well could hold more than 100m barrels of oil.

McDade said, “This substantial and high value oil discovery in Guyana is an outcome of the significant technical and commercial focus which has underpinned the reset of our exploration portfolio.”

He added, “It is an excellent start to our drilling campaign in the highly prolific Guyana oil province. We look forward to drilling both the Joe and Carapa prospects in our 2019 drilling campaign and the material follow-up exploration potential in both the Orinduik and Kanuku licences.”