The New Ventures Business Delivery Team is responsible for Tullow’s frontier exploration and appraisal activity across Africa, the Caribbean, Latin America and Europe. The team is focused on finding high value oil at low costs and in areas with favourable licence terms. The team is also tasked with managing and replenishing Tullow’s exploration portfolio with high-potential prospects. The Group has been actively managing its current equity positions and exposure to drilling costs across the portfolio through various transactions for carried interests. A number of farmdowns are under way across the portfolio and this work will continue in 2016.
Tullow’s currently planned exploration and appraisal programme can be viewed here.