TULLOW Recommits to Africa.

Aidan Heavey Chief-Executive-Officer
Aidan Heavey Chief-Executive-Officer

Announcing its end of year results,tullow oil plc has promised a renewed interest in Africa where most of its operagtions are based,pointing at over 40 oil wells that are lined up for exploration in 2013 in Ethiopia,mozmbique Mauritania, and in the French Guiana. Tullow also announced the acquisition of a Norwegian company spring energy at a cost of 372 million$ While Commenting on the figures today, Aidan Heavey, Tullow’s Chief Executive, said: “2012 was a year of major progress for Tullow. Pointing out that they materially enhanced the business with a basin-opening oil discovery in Kenyaand adding highly prospective new licences in Africa and the Atlantic Margins, refinancing our debt and partially monetising their Ugandan assets. The Jubilee Field in Ghana is now approaching its full potential and provides the base for our production profile and operational cash flow’ This focus on exploration-led growth, together with active portfolio management and Tullow’s strong balance sheet, provides an excellent platform for growth in 2013 and beyond.” He Added

Enable Notifications    Ok No thanks