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Europe, South America & Asia

Last updated: 20 Mar 2013

Floating market and boats
Slow boat on river
Map of South Asia core area in detail

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Production

Key statistics

Countries Producing fields 2012 Working interest production % of Group production % oil/gas
4 38 21,350 27% 0/100

In 2012, average working interest production was 21,350 boepd predominantly from the Southern North Sea assets in the UK and Netherlands with the remainder from the Bangora field in Bangladesh.

In May 2011, Tullow significantly enhanced its Dutch portfolio though the acquisition of Nuon Exploration & Production from the Vattenfall Group for a cash consideration of €300 million ($432 million). This is a non-operated portfolio of gas producing fields, a range of exploration opportunities and an equity interest in infrastructure.

In March 2012, Tullow announced its intention to sell the Groups Asia assets and Southern North Sea assets in the UK and Netherlands.

Production Summary - Key producing assets*

Country Asset Interest 2012 Actual 2013
Forecast		 Fiscal
Regime
Netherlands Various 4.1-22.5% 6,350 5,200  
Norway Brage 2.5% - 250  
UK CMS Area2 14.1-100% 9,300 10,400 Tax
  Thames Area 50-87% 750 50 Tax
Total   16,400 15,900  
Bangladesh Bangora 30% 4,915 4,050 PSC
Pakistan Shekhan-1 40% 35 0 -
Total   4,950 4,050  

*Data from latest fact book.

2013 Development opportunities*

Country Developments Sanction
Decision		 First
Production		 No. of Wells Status
Netherlands Joint Development Area (JDA) wells 2013-2015 Q1 2013 – 2015 6-7 NAM operated wells using Swift rig and back-to-back drilling.
L-15-A Infill 2013-2015 Q3 2013 3 1 well per year over next 3 years.
UK
CMS Area		 Schooner Infill Tick Q3 2013 1 SA-11 Infill well, Schooner field.
CMS, Boulton Field Infill 2013 2014 1 In planning.
 
Bangladesh Bangora Workovers Tick 2013 2 Workovers of existing wells to replace tubing and add perforations to restore plateau rate to 100-120 mmscfd.
Bangora Phase 3 Tick 2014 n/a Installation of compression to maintain plateau production at 100-120 mmscfd and increase recovery.
Bangora South 2013 2015 1+ Southern satellite to Bangora Field awaiting drilling sanction.
Pakistan Kohat Block 2013 2014 TBC Possible appraisal or development decision following Shekhan Extended Well Test, and acquisition and interpretation of seismic data.
Kalchas Block Tick 2014 1+ First well (Marri-1) planned for 2013 to be followed by appraisal programme in the event of success.
Norway1 Brage infill Tick Producing 4 – 5 infill Ongoing production infill well drilling campaign through 2013/14, following rig upgrades due in Q1 2013. Operator change from Statoil to Wintershall awaiting approval from authorities, but expected early 2013.
Bream End 2013 2017 7 Licence extension pending. Development plan due to be submitted in Dec 2013. Leased FPSO development scheme currently envisaged. Upto five producers and two water injectors currently planned.
Butch 2015 2018 10+ Two firm appraisal wells to be drilled in Q3/Q4 2013. PDO deadline Q1 2016. Development concepts currently range from subsea tieback to standalone facility.

1 Portfolio management of non core developments will be reviewed

*Data from latest fact book.