Mauritania Exploration: One Step Forward, Two Steps Back

Chevron has entered the Mauritanian deepwater – going against the grain of majors cutting back frontier spending. But the country’s dominant player Tullow Oil is dramatically scaling back its activity.

UK-listed Tullow has shares in ten blocks offshore Mauritania, seven of which it operates. But it now plans no further exploration drilling for the foreseeable future. Development of its 1.5 tcf Banda prospect...