Sales revenue
Down 14% on 2008
A 6% decline in year-on-year production and lower global commodity prices in 2009 resulted in sales revenue for Africa falling £66 million.
Directors' Report: Business review
Operations review: Africa
Excellent progress has been made across the whole of Tullow’s African portfolio in 2009. Existing production remains strong, significant new developments are on track, and the Group’s position has been enhanced through highly successful exploration, appraisal and portfolio management activity.
2009 Highlights
Average working interest production
Exploration and appraisal success rate
Significant oil and gas condensate field discovered in Ghana
Largest recent oil discovery onshore sub-Saharan Africa
Jubilee development remains on track for Q4 2010 first oil
Very strong partners being introduced to support development in Uganda
Key producing assets
| Country | Producing field (Tullow %) |
2009 Working interest production (boepd) |
|---|---|---|
| Congo (Brazzaville) | M’Boundi (11%) | 4,350 |
| Côte d’Ivoire | Espoir (21.33%) | 5,000 |
| Equatorial Guinea | Ceiba (14.25%) Okume Complex (14.25%) |
4,850 10,250 |
| Gabon | Etame/Avouma (7.5%) Niungo (40%) Tchatamba (25%) Others (3.75% – 40%) |
1,700 3,500 3,400 3,400 |
| Mauritania | Chinguetti (19.01%) | 2,050 |
Glossary
- boepd
- barrels of oil equivalent per day
- bopd
- barrels of oil per day
- CNOOC
- China National Offshore Oil Corporation
- CO2
- Carbon dioxide
- DRC
- Democratic Republic of Congo
- FEED
- Front End Engineering and Design
- FPSO
- Floating Production Storage and Offloading vessel
- FTG
- Full Tensor Gravity Gradiometry
- GNPC
- Ghana National Petroleum Corporation
- km
- kilometres
- mmbo
- million barrels of oil
- mmboe
- million barrels of oil equivalent
Capital investment
Up 82% on 2008
Development work on the Jubilee field in addition to extensive exploration activities in Uganda and Ghana, resulted in increased capital expenditure in 2009.
