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 140 licences across more than 20 countries, producing an average of 78,400 boepd in 1H 2014 generating sales revenue of $1.3bn.
In 2014, Tullow expects to spend around $2.1bn on exploration, appraisal and development activities. In terms of exploration key areas of focus in the scond half of the year include Kenya, Norway and Gabon. Beyond our high-profile wildcat wells, appraisal drilling in Uganda, Gabon and Congo (Brazzaville) also contributed towards Tullow’s overall success. 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. Development spend in 2014 will focus primarily on the TEN project in Ghana and maintaining high margin production from our mature West Africa fields.
Across Europe and Asia, Tullow has been selling its gas assets whilst focusing on oil exploration activities in Norway.
By the end of 2013, Tullow had a total workforce of 2,034 around the world, an increase of 14% 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