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(Image Courtesy of Tullow)

Tullow Oil plc said Tuesday its Buzio-1 exploration well in Area 2 offshore Mozambique was dry and the site has been plugged and abandoned.

The Buzio-1 well is the second deepwater exploration well drilled in Area 2 and targeted stratigraphic traps in channel systems of Tertiary and Upper Cretaceous ages. Good quality water bearing reservoir sandstones were found in both targets.

Transocean’s Discoverer Americas dynamically positioned drill ship drilled Buzio-1 to a final depth of 3,333 metres in water depths of 1,534 metres.

Tullow has a 25% interest in Areas 2 and 5 in the Romuva Basin, offshore Mozambique.

Statoil 40% are the operator while INPEX have a 25% non-operated interest. ENH (Empresa Nacional de Hidrocarbonetos, E.P.) have a 10% carried interest.

Tullow is quoted on the London, Irish and Ghanaian stock exchanges (symbol: TLW) and is a constituent of the FTSE 100 Index.

It has interests in over 150 exploration and production licences in  25 countries.

Angus McCoss, Tullow’s Exploration Director, said,

Having encountered hydrocarbons with the Cachalote-1 well, we have acquired valuable information from the Buzio-1 dry hole. We will now combine the data from both offshore Mozambique wells with our extensive seismic in this licence area and determine our next steps.