The Marina-1 exploration well, located in the Tumbes Basin offshore Peru, did not encounter significant hydrocarbons and will now be plugged and abandoned, operator Karoon Energy said in a statement.
Mudlogging and LWD logging results from the primary targets in the Tumbes formation indicated that the well had encountered thin water-bearing sands with no oil and only minor gas shows.
The well was first spudded in early January, with the Stena Forth drillship performing drilling duties.
Karoon said that Marina-1 provided a “large amount of valuable data” for the geological setting for that region of the Tumbes Basin. While it encountered several potential reservoir sequences in the well, those sections were water wet. Karoon said it is analyzing the well results and that no further drilling is planned in Block Z-38 for this campaign.
“Tullow is building an extensive exploration position in Peru and, while this result is not what we had hoped for, we remain positive about Peru’s wider offshore exploration potential,” said Mark MacFarlane, Chief Operating Officer of Tullow Oil, in a separate statement released by the company. Tullow holds a 35% interest in Marina-1, with Karoon holding a 40% operating interesting and Pitkin Petroleum holding the remaining 25%.