Tullow’s business model is to find and monetise oil from our portfolio of assets across Africa and South America.
Our activities are focused on generating cash flow from production, selectively developing discoveries and investing in exploration to find new oil for future growth or early monetisation. We have a prudent financial strategy with diverse sources of funding. We are focused on debt reduction and right sizing our asset base through portfolio management.
Our value life cycle
Our work across the life cycle delivers long term sustainable growth.
Through targeted exploration in Africa and South America we find oil to build reserves and resources, to sell in the ground, or to develop for future production. We aim to build the best inventory of prospects for drilling, managing risk exposure and readiness to take advantage of exploration opportunities.
We are focused on appraisal and development with clear plans for monetisation. We invest in high-return, near-field wells, drilled adjacent to our producing assets.
We have focused production plans with clear routes to revenue-generating objectives and are investing in in-field drilling programmes to increase and extend production plateau across our producing assets in West Africa.
Creating sustainable benefits
|Exploration and appraisal||Development||Production||Decommissioning|
|2-10 yrs||3-10 yrs||20-50 yrs||3-10 yrs|
|First oil||Government take
Oil company take
Government net cash flow
Oil company cost
Oil company apex
|Legacy of skills built up through involvement in the oil and gas industry
Local employment for demolition, waste management and fabrication
|Seismic activity, drilling of exploration & appraisal wells||Capital intensive period for IOC to develop field||Investment to maintain maturing production||Specialist skills for decommissioning to ensure full restoration of the site|
Creating value for stakeholders
Free cash flow
Our host countries
Payments to governments
Spend with local suppliers
Employees awarded shares
Response rate to staff engagement survey