Tullow is poised to deliver on major projects in Ghana and Uganda. In the longer-term, the Group has a strong exploration portfolio across 11 countries. Expertise in core plays and a focus on execution creates the opportunity for further material exploration upside.
Underpinning this growth is a high quality production and development portfolio with 17 producing fields across five countries.
Working interest production (boepd)
Increase in working interest production
Contribution to Group working interest production
Reserves and resources (mmboe)
Increase in reserves and resources
Contribution to Group reserves and resources
- * Tullow sold its interest in Cameroon in mid-2008.
- Key:
- E Exploration
- D Development
- P Production
- * Tullow sold its interest in Cameroon in mid-2008.
- Key:
- E Exploration
- D Development
- P Production
Key producing assets
| Country | Producing field (Tullow %) | 2008 Working interest production (boepd) |
|---|---|---|
| Congo (Brazzaville) | M’Boundi (11%) | 4,600 |
| Côte d’Ivoire | Espoir (21.33%) | 6,100 |
| Equatorial Guinea | Ceiba (14.25%) | 5,400 |
| Okume Complex (14.25%) | 10,000 | |
| Gabon | Etame/Avouma (7.5%) | 1,600 |
| Niungo (40%) | 4,000 | |
| Tchatamba (25%) | 4,400 | |
| Others (3.75% – 40%) | 2,800 | |
| Mauritania | Chinguetti (19.01%) | 2,200 |
Ghana
Outstanding progress
Tullow has had outstanding success over the last 12 months in Ghana. A 100% success rate in both exploration and appraisal has added materially to the Group’s resource base. This success has been matched by tangible progress on the development of the Jubilee field which remains on track for first oil in 2010.
The expertise and knowledge developed in Ghana can be transferred to neighbouring Côte d’Ivoire and Liberian acreage and across the Atlantic to twin basins in South America where significant upside potential exists.
Uganda
Exceptional exploration record
Tullow has made remarkable progress in Uganda since its first discovery in 2006. The Group has now drilled 20 wells, all of which have encountered hydrocarbons. In 2008, a number of sizeable discoveries were made including one of the largest discoveries in Sub-Saharan Africa. In total, sufficient resources have been discovered to justify full-scale development of the Lake Albert Rift Basin.
2009 will see development options being evaluated in parallel with further high-impact exploration in a major new basin with well over one billion barrels of potential.