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Last updated: 30 Jul 2014
Tullow has been successfully operating in Africa since 1986. In recent years the Group has had significant exploration success in Uganda's Lake Albert Rift Basin, offshore Ghana and most recently in Kenya’s South Lokichar Rift Basin opening three new hydrocarbon basins.
In Uganda, Tullow has drilled over 70 wells since 2006 and discovered 1.7 billion barrels of oil around Lake Albert with the potential to produce over 200,000 boepd. In February 2012 Tullow farmed down two-thirds of its equity across the basin to CNOOC and Total for a total consideration of $2.9bn. A Memorandum of Understanding (MoU) signed in February 2014 by the partners and the Government of Uganda provides a framework to achieve a unified commercialisation plan for the development of the upstream, an export pipeline and a modular refinery.
In Ghana, Tullow and its partners discovered the world-class Jubilee field in 2007 and developed it in record time with production commencing in November 2010, some 40 months after discovery. Further development activity continued in 2012 with the Jubilee field Phase 1A Plan of Development (PoD) approval in the January and the first production wells from Phase 1A coming on stream at the end of 2012. In 2013, the field averaged 100,000 bopd gross and is expected to be at a similar level during 2014 before ramping up towards the FPSO facility capacity of 120,000 bopd following the completion in Q4 2014 of the onshore gas processing facility. In May 2013, the TEN PoD was approved by the Government of Ghana, Tullow's second major operated development in country, with the project on track for first oil in mid-2016 with an FPSO facility capacity of 80,000 bopd.
The significant discoveries in Uganda and Ghana have led Tullow to expand its acreage positions in an effort to replicate the transformational success these countries and their geological play types have brought to the company. In West Africa and the Atlantic Margins, Tullow has focused its exploration on targeting the Jubilee-like deepwater play in countries such as French Guiana, Mauritania and Guinea. In East Africa, Tullow acquired significant acreage positions across the Rift Basins of Kenya and Ethiopia in 2011 in an attempt to replicate the success of Uganda. In 2012, the first well in Kenya on the Ngamia prospect made a significant basin-opening discovery. Following a number of further successful wells in the South Lokichar basin, Tullow has discovered in excess of 600mmbo with a major E&A campaign now underway including further basin opening wells across the Kenya and Ethiopia acreage throughout 2014 and 2015.