In 2008 Tullow made good progress in Europe, South Asia and South America with new fields developed, major asset sales completed and acreage acquired in a new country with high-impact exploration potential.
Tullow’s Rest of the World assets remain integral to the business and comprise production, development and exploration interests in Europe and South Asia and high-impact exploration licences in South America. In the current financial climate, Tullow has undertaken a strict capital allocation programme which will prioritise key African developments in the near term. However, investment in the Rest of the World is expected to increase in 2010.
2008 highlights
25,450 boepd
2008 average working interest production
£245 million
Sale of Hewett-Bacton and CMS assets in the UK
120 mmscfd
Capacity at Bangora expanded in Bangladesh
Georgetown Block
30% interest acquired in Jubilee type play offshore Guyana
Capital investment (£ million)
Capital investment
Decrease on prior year
Sales revenue (£ million)
Sales revenue
Decrease on prior year
