Related documents
Related links
The signing will enable the parties to finalise a Production Sharing Contract for the Block and enhance Tullow's portfolio of high-impact exploration acreage in the emerging Suriname-Guyana Basin.
Tullow plans to acquire seismic data during 2011 and anticipates that wells will be drilled as part of the Group's medium-term exploration programme in the Equatorial Atlantic region of South America.
Tullow will operate the licence with a 100% interest during the exploration phase. The State Oil Company, Staatsolie, has the option to participate during the development and production phases with a 20% interest.
Commenting today, Angus McCoss, Exploration Director, said:
"Tullow is very pleased to have signed this Heads of Agreement with Staatsolie for such an exciting block in the Equatorial Atlantic region of South America. The Group is seeking to replicate the transformational success achieved with the Jubilee field in Ghana and this new acreage complements our existing positions in Guyana and French Guiana."
Contacts
| Tullow Investor Relations | Camarco (Media) |
|---|---|
|
ir@tullowoil.com |
(+44 20 3757 4980) |
Notes to editors
Tullow is an independent energy company that is building a better future through responsible oil and gas development in Africa. Tullow's operations are focused on its core producing assets in Ghana. Tullow is committed to becoming Net Zero on its Scope 1 and 2 emissions by 2030, with a Shared Prosperity strategy that delivers lasting socio-economic benefits for its host nations. The Group is quoted on the London and Ghanaian stock exchanges (symbol: TLW). For further information, please refer to: www.tullowoil.com.
Follow Tullow on:
Twitter: www.twitter.com/TullowOilplc
LinkedIn: www.linkedin.com/company/Tullow-Oil