Tullow Oil said today it has suspended operations in the Bangora well in Bangladesh due to heavy monsoon flooding in the region.
In its latest drilling update, the company which has interests in over 90 drilling sites worldwide, also warned that work at its Ugandan operation has been suspended until October due to technical difficulties.
On a more positive note, Equatorial Guinea is progressing well with news likely in the near term. Production in Gabon is also running at 15,500 barrels per day, approximately 10 per cent ahead since Tullow bought the site from Energy Africa.
Tullow also has high hopes for the M'Boundi field in the Congo with three rigs currently drilling. Production has been raised at M'Boundi to 18,500 barrels per day and Tullow expects to be in a position to upgrade reserves from this project at year end.
Tullow said it plans to drill a minimum of 10 further development wells before the end of 2004.
Tullow's chief executive Mr Aidan Heavey, said the recent results from M'Boundi provide further evidence that the site is becoming a "truly world-class field" while Mauritania, Uganda and Cote d'Ivoire each have "significant upside potential" which will be evaluated over the remainder of 2004.
Tullow has interests in over ninety exploration and production licences spread over three core areas: the North Sea, West Africa and South Asia. Tullow recently completed the acquisition of Energy Africa, which takes the number of countries in which Tullow is active to sixteen.