By OGJ editors
HOUSTON, Aug. 3 -- Tullow Oil PLC was awarded a 50% interest in Block 1/06 off Angola, and the UK company expects to enter into a production-sharing contract in August with state-owned Sonangol.
Block 1/06 is in 40-300 m of water and includes three undeveloped oil fields: Pitangueira, Bananeira, and Sapesapeiro.
Tullow plans to drill two wells in late 2007. In addition, a 3D seismic survey covering 600 sq km is slated during the anticipated contract's first 4-year period along with a third exploration well.
