Across all areas of the Group
Tullow is organised for exploration success, which is central to the Group’s continued growth. A Global Exploration Leadership Team, with over 300 years of exploration experience, works alongside 80 geologists and geophysicists across the Group. Their experience is leveraged through proven expertise in targeted core plays.
Similarly, management of major developments, key producing assets and drilling activities is the remit of a very strong production and development team, whose capabilities are constantly growing to meet the challenges and opportunities the Group’s exceptional exploration success has delivered.
Key priorities are to quickly commercialise Ghana and Uganda; major projects that require significant financial resources. Tullow has strong commercial expertise and well-developed bank and shareholder relationships, evidenced by the ability of the Group to raise finance and place equity, despite the current credit environment.
Core plays
Tullow’s expertise in core plays helps us open up new basins before the competition. We are at the forefront of unlocking value through selectively applied and innovative technologies that allow us to evaluate acreage, build play diversity and deliver first generation discoveries.
Major projects
Key priorities in 2009 are fast-tracking Ghana and Uganda. Phase 1 of the Jubilee field is well under way, which now allows us to evaluate the timing and plans for the next phase. In Uganda, we have assigned a dedicated team to deliver a commercial development plan for the region.
Financial strength
In 2009, Tullow successfully completed a US$2 billion financing and a £402 million equity placing. This is a significant achievement and a resounding endorsement of not just the Group’s major projects, but also of Tullow’s ability to successfully deliver the next phase of growth.
