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Tullow Switches Exploration Focus to Suriname From French Guiana

July 31 (Bloomberg) -- Tullow Oil Plc plans to switch its exploration focus to Suriname from French Guiana after drilling three unsuccessful wells in the overseas region of France.

“There won’t be any more wells in the near term after GM-ES-5” which will be located on the Cingulata prospect near the Zaedyus-1 discovery, said Tullow Exploration Director Angus McCoss. “With that data in hand and the rig departing we are trying to rethink, regroup, reassemble the prospect inventory.”

Tullow opened a new oil frontier off the northeast coast of South America with its Zaedyus well in 2011. Together with Royal Dutch Shell Plc and Total SA, the London-based company was targeting about 1.4 billion barrels of oil resources in French Guiana with its drilling campaign. Tullow will shift focus to neighboring Suriname, where it’s a partner with Statoil ASA in Block 47, after joining Inpex Corp. in Block 31.

“The venture hasn’t been successful in locating the wells since the Zaedyus first well,” McCoss said in a phone interview. “In the mid-term the focus of activity will certainly” be Suriname “but we are not giving up on French Guiana. The prospectivity there is too rich, too strong, so we will be back.”

To contact the reporter on this story: Eduard Gismatullin in London at egismatullin@bloomberg.net

To contact the editor responsible for this story: Will Kennedy at wkennedy3@bloomberg.net

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