tullow in A Sentence

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Tullow Oil Italy.

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With the Environmental and Social Impact Assessment(ESIA) now approved, acquisition of a 3,000 square kilometers 3D seismic survey is expected to commence in September 2019,” Tullow confirmed.

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Going into the remaining portion of 2019, Tullow says it plans to stick to its earlier capex forecast for 2019 at $570 million, which, however, may not include the Comoros venture.

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Tullow is now the operator of blocks 35, 36 and 37 and a 3D seismic contract award has been approved by Tullow's joint venture partners and by the government,” said Tullow on Wednesday.

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Paul McDade, CEO of Tullow Oil, added:“Dorothy Thompson's extensive experience as CEO at Drax will be exceptionally valuable as we work together to position Tullow for growth in what remains an uncertain environment in our sector.

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Paul McDade, Chief Executive Officer of Tullow Oil plc, also said,“Dorothy Thompson's extensive experience as CEO at Drax will be exceptionally valuable as we work together to position Tullow for growth in what remains an uncertain environment in our sector.

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While Tullow is well-positioned with a balanced set of production, development and exploration assets, we will need to ensure that the Company not only delivers on the potential of its current assets but also seeks out new opportunities for growth.

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While Tullow is well positioned with a balanced set of production, development and exploration assets, we will need to ensure that the Company not only delivers on the potential of its current assets but also seeks out new opportunities for growth.

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Multinational oil and gas exploration company Tullow Oil plc will in the next two months launch a bid to acquire 3,000 square kilometers 3D seismic survey after the firm successfully completed its entry into the Africa's east coast volcanic archipelago of Comoros.

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For Tullow, the progress of its Comoros investment plan comes at a time when the company has announced revenues of $872 million in the first six months of 2019 and gross profit of $527 million with a realization of $103 million in post-tax profit.

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Global oil and gas exploration and production companies such as ExxonMobil, Total, Tullow, Kosmos and Oryx Petroleum have, through joint ventures with participation of national oil entities in West Africa, led in the highly expensive search for oil and gas in the region's deep and ultra-deep waters.

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Earlier in November 2018, Tullow had struck a deal with London-based Discover Exploration Ltd to farm into Blocks 35, 36 and 37, offshore the Comoros in the warm Indian Ocean waters of the Mozambique Channel which has not been drilled for oil and gas despite massive discoveries within the region.

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Tullow, which has diverse oil and gas operations in Ghana, Cote d'Ivoire, Namibia, Mauritania, Zambia, Kenya and Uganda, said it was left with a free cash flow of $181 million in first half of this year after incurring capital expenditure(capex) of $248 million within the same period, more than 56% of it invested in Ghana.

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Discover Exploration, which received approval from Comoros' National Assembly for the production sharing contracts covering the three blocks in 2014, is reported to have signed a binding agreement with Tullow Comoros Ltd for the assets, a transaction, which when fully approved by Comoros authorities, will allow Tullow to become the operator,“and will partly carry Discover for a 3D seismic survey and the first exploration well.”.

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