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Tullow has a strong team with clear management and governance frameworks.
The Group delivered strong operational and financial performance in 2012.
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Progress we have made towards our strategic priorities and achieving our vision.
Our bold exploration strategy differentiates Tullow within the industry.
Tullow has been successfully operating in Africa since 1986.
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The Group delivered strong operational and financial performance in 2012.
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Last updated: 20 Mar 2013
|
Key activities |
Countries | Licences |
Acreage (sq km) |
Producing fields |
2012 Working interest production (boepd) |
2012 Sales revenue |
2012 Capital investment |
|---|---|---|---|---|---|---|---|
| E D P | 10 | 43 | 101,106 | 19 | 57,750 | $1,963m | $1,087m |
Tullow's first African licence was acquired in Senegal in 1986. The transformational acquisition in 2004 of Energy Africa was a further step in the African portfolio growth, bringing with it five African producing countries. Then in 2007 the Hardman Resources acquisition brought Tullow the operatorship of EA-2 in Uganda and production in Mauritania.
The next stage of the African production growth story was in November 2010 when first oil from the Jubilee field in Ghana was produced into the FPSO. The next stage of the Jubilee field development, Phase 1A, is now underway with Jubilee production expected to be in excess of 120,000 bopd by the end of 2013. The TEN plan of development in Ghana was submitted at the end of 2012 with first oil expected 32-36 months after sanction.
The Group has a number of high-impact exploration wells across West and North Africa planned throughout 2013. Expertise in core plays and a focus on execution creates the opportunity for further material exploration upside. Wells in Côte d'Ivoire and Mauritania have the ability to discover significant resource potential during the year.
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