Tullow Oil plugs and abandons poor quality well in Norway | City A.M.

TULLOW Oil yesterday said that it has plugged and abandoned the Wisting Alternative well, located off Norway in the Barents Sea, due to “poor quality” reservoir rock.

The FTSE 100-listed oil explorer said evaluation work on its neighbouring Wisting Central discovery would continue.

“The material Wisting Central oil field, discovered in the same licence in September this year, will now be prioritised for appraisal in 2014,”said exploration director Angus McCoss in a statement. Shares closed down over two per cent.