Tullow Oil Plc is a UK-based leading independent oil and gas company with primary focus on Africa, Europe and South America and has interest in more than 50 exploration and production licences located across 11 countries. The group was founded in the small town called Tullow in 1985 and since then the group expanded organically and through strategic acquisition. The group’s shares are traded on the London Stock Exchange, and it is a part of the FTSE 250 Index. It has the secondary listing on the Ghana Stock Exchange as GSE: TLW and Irish Stock Exchange as ISE: TQW.
The group’s objective is to build better future through responsible oil and gas development by finding and monetising from the assets of its portfolio located in Africa and South America with the motive to deliver high-cash flow, unlocking value of its assets and helps in creating long-term value for its stakeholders, investors, host countries and its employees. Its long-term strategies are to discover large resource base, safely deliver operational excellence at low cost, maintaining portfolio of well defined and resilient investment opportunities, disciplined capital allocation, exploration and development, self-funding its future activities with significant capital flexibility and invest in highly skilled and experienced team.
The group goes through different stages of oil life cycle to bring tangible and sustainable value to the group, The steps include exploration & appraisal that invest in seismic activity, drilling of exploration, and appraisal wells and it takes 2 to 10 years. Its second step is development of discovery, which is a capital-intensive period to develop fields and it takes 3 to 10 years. The third step is to produce, which last for 20-50 years, and the last step is decommissioning, and it invests in specialist skills for decommissioning to ensure full restoration of the site, which takes 3 to 10 years.
The group operates in three major geographical divisions: Africa, Europe and South America. The group is operating in Africa since 1986 and its assets are in Cote d’Ivoire, Gabon, Ghana, Namibia, Kenya and Mauritania. In Europe, the group only operates in the UK, and it entered the UK offshore exploration, development, and production arena in 2020 with the acquisition of BP’s Southern North Sea gas assets in the CMS and Thames-Hewett areas. In South America, the group operates in Argentina, Guyana, Peru, and Suriname.
9 Chiswick Park, 566 Chiswick High Road W4 5XT United Kingdom