Congo (Brazzaville): Murphy eyes Turquoise tieback

By OGJ editors
HOUSTON, Jan. 7 – Dry holes off Congo (Brazzaville) have led Murphy Oil Corp. to study tieing its Turquoise Marine-1 oil discovery back to Azurite field on the Mer Profonde Sud permit.

The Cobalt Marine-1 exploratory well and the Turquoise Marine-3 well failed to find commercial hydrocarbons. Turquoise Marine-4 found well-developed deeper reservoirs with a minor accumulation of oil.

Murphy West Africa Ltd. operated the three wells at 58.82% working interest and plans to plug all three. It will expense the $36 million total net cost in the fourth quarter of 2010. Murphy said it is nearing final conclusion on improved fiscal terms in Congo.