Norway’s Statoil drills new test well in Mozambique but finds no oil

3 September 2013

The Búzio-1 test well drilled by Norway’s Statoil in Area 2 of the Rovuma basin in northern Mozambique, has been closed as no trace of hydrocarbons was found, British company Tullow oil said.

In a statement published Monday, Tullow Oil said that Búzio-1 was the second test well drilled in the block, and the previous one, Cachalote-1, found natural gas with no commercial value.

Tullow Oil has a 25 percent stake in Area 2 of the Rovuma basin, and Norway’s Statoil is the operator with a 40 percent share. The remaining partners are Japan’s Inpex with 25 percent and Mozambican state company, Empresa Nacional de Hidrocarbonetos (ENH) with the remaining 10 percent. (macauhub)