Europe, South America & Asia

Last updated: 19 November 2014

Production

Key statistics

Countries Producing fields 1H 2014 Working interest production % of Group production % oil/gas
4 47 14,600 19% 1/99

In 1H 2014, average working interest production was 14,600 boepd predominantly from the Southern North Sea gas assets in the UK and Netherlands.

In 2012, Tullow announced its intention to sell the Group's gas assets in Asia and the Southern North Sea (UK and Netherlands). The Bangladesh asset sale completed in December 2013 whilst the other sales processes continue, including the small equity in the Braga field in Norway. The Group will be focusing on its conventional light oil exploration-led growth strategy across Africa and the Atlantic margins. 

Production Summary - Key producing assets (1)

EUROPE, SOUTH AMERICA & ASIA   1H 2014 Actual (kboepd) 2014 Forecast (kboepd)
Netherlands Various 5.3 4.9
Norway Brage 0.3 0.3
UK CMS Area & Thames Area 2 9.0 8.3
EUROPE, SOUTH AMERICA & ASIA TOTAL   14.6 13.5

(1) Includes condensate
(2) CMS Area production includes UK condensate production

Development opportunities*

Country Developments Sanction
Decision
First
Production
No. of Wells Status
Netherlands Joint Development Area (JDA) wells Q3 2013-2016 Q1 2014 8 Suite of wells including L13-FI development, L13-FH, K18-G infill, K7 and K8 infills.

Tullow asset sales process continues.
L-15-A Infill 2014-2016 Q3 2014 3 One well per year over next three years.

Tullow asset sales process continues.
UK
CMS Area
Schooner and Ketch infill campaign 2014 2015-2017 8 Suite of infill wells and sidetracks.

Tullow has agreed sale of part of interests in Schooner & Ketch. Deal awaiting completion.
CMS Area - Kelvin 2014 2014-2015 1 In planning.

Tullow asset sales process continues
Norway1 Brage infill Tick Producing 2-3 infill Ongoing production infill well drilling campaign through 2014. Licence extension granted by authorities until end 2030. Tullow working interest following harmonisation agreement is 2.5%.

Tullow has recently agreed the sale of this asset to Wintershall. Completion expected Q4 2014.
Bream 2015 2018 5-7 Tullow’s working interest remains 20%. Development plan due to be submitted in late 2014. Up to five producers and two water injectors currently planned.
Butch 2016 2018
(tieback)
2019 (standalone)
 
10+ Two exploration/appraisal wells in 2014 have been completed and were P & A. Concept selection & development plan due early 2016 following appraisal results integration.

1 Portfolio management of non core developments will be reviewed

*Data from latest fact book.