Tullow Farms into Comoros Acreage
UK independent, Tullow Oil, said November 29 it has agreed with London-based Discover Exploration to farm into blocks 35, 36 and 37 offshore the Comoro Islands in the Indian Ocean. The republic is located between the gas-rich waters of northern Mozambique and the less well-explored northern tip of Madagascar.
Tullow said that, upon completion of the transaction which requires government approval, it will operate all three blocks and hold a working interest of 35%. It added that the blocks comprise an area of 16,063 km2 with a gross unrisked resource potential of up to 7bn barrels oil and that a 3D seismic survey is planned for 2019. It made its announcement at a Capital Markets presentation in London.
The Comoros, which joined the UN in 1975, is one of the world's poorest countries with a gross national income per capita of $760 in 2017 (down from a high of $830 in 2014) according to World Bank data. However, its average life expectancy at 63.7 years (2016) and GNI per capita are higher than those of its two closest neighbours.