Tullow Oil issues optimistic operational update
Tullow Oil has today issued an upbeat operational update in respect of its activities in Uganda and Ghana.
In Ghana and Equatorial Atlantic, Tweneboa-1 made a significant discovery, extending the Jubilee play westwards.
Five potentially transformational exploration and appraisal wells are scheduled for 2H 2009, and new 3D seismic surveys have revealed large leads offshore in Guyana and Liberia.
In Uganda, Ngassa-2 drilling operations are ongoing and oil shows have been encountered. Total Depth is expected to be reached in August.
"In the first half of 2009, Tullow has focused on the exploration, appraisal and development of the Group’s two major growth projects in Ghana and Uganda," said chief executive Aidan Heavey.
"This has resulted in significant resource additions in Uganda and the discovery of the potentially transformational Tweneboa field in Ghana.
"In addition, we have made excellent progress with the Phase 1 development of the Jubilee field and I am delighted to report that this has culminated in the finalisation of the Development Plan with the Ghanaian government.
"It promises to be an exciting second half of the year with high-impact exploration and appraisal wells in Ghana and Côte d’Ivoire, the result of the significant Ngassa-2 well in Uganda and the development of commercialisation options for the substantial Ugandan resource base. The outlook for Tullow remains very positive."
