Tullow Oil plc is one of the largest independent oil and gas exploration and production companies in Europe. The Group is entering its next phase of growth with a major focus on Africa and the Atlantic Margin basins, where Tullow is already a dominant player following exploration success in Ghana, French Guiana, Uganda, Kenya and Norway.
Tullow has a large portfolio of exploration and production assets with a focus on balanced long-term growth. The Group has interests in over 150 licences across more than 20 countries, producing from a total of 68 fields. In 1H 2013, average working interest production was 88,600 boepd, generating sales revenue of $1.3bn.
At the half year, Tullow’s E&A capital spend amounted to $512 million with the main activities being 13 exploration wells and 14 appraisal wells with an overall 63% success ratio. Beyond our high-profile wildcat wells, appraisal drilling in Uganda, Gabon and Congo (Brazzaville) also contributed towards Tullow’s overall success rate. These wells importantly provide additional reserves and resources which will add to the Group’s future cash flows as they are monetised. Additional capital has been spent on acquiring seismic and new ventures activity which aims to continue high grading Tullow's exploration portfolio of around 400 leads and prospects for future drilling campaigns.
By the end of 2012, Tullow had 1,415 employees around the world, an increase of 17% on the previous year. Tullow has attracted industry leading professionals and is well resourced to deliver on its major projects in the coming years.
Featured country film - Uganda
Learn about Tullow's operations in Uganda following our entry into the country in 2004 and the discovery of 1.7 billion barrels of recoverable resources.
Published November 2013
Tullow Oil plc, Building 9,
566 Chiswick High Road,
Tel: +44 (0) 20 3249 9000
Fax: +44 (0) 20 3249 8801