Tullow Oil
Tullow Oil plc is a multinational oil and gas exploration company founded in Tullow, Ireland with its headquarters in London, United Kingdom. It has interests in over 150 licenses across 25 countries with 67 producing fields and in 2012 produced on average 79,200 barrels of oil equivalent per day. Its largest activities are in Africa and the Atlantic Margins, where it has discovered new oil provinces in Ghana, Uganda, Kenya and French Guiana. Tullow’s main production comes from six countries in Africa as well as the Southern North Sea and Asia. Ghana's offshore Jubilee oil field which was discovered in 2007 and started production in December 2010 is Tullow's largest discovery.
As at 31 December 2012 Tullow had total Group reserves and resources of 1.2 billion barrels of oil equivalent including commercial reserves of 388 million barrels of oil equivalent. Tullow's 2012 exploration and appraisal drilling success rate was 74% around double the industry average; this success has been ascribed to its drilling in geological formations similar to those in which oil has been discovered at other locations, for example, a formation off the coast of South America which is similar to formations in West Africa.
Tullow has a primary listing on the London Stock Exchange and is a constituent of the FTSE 100 Index. It had a market capitalisation of approximately £11.1 billion as of 3 April 2013, in the top 40 of the largest members of the FTSE All Share Index on the London Stock Exchange. It has secondary listings on the Ghana Stock Exchange and Irish Stock Exchange.
Read more about Tullow Oil: History, Vision, Operations, Major Projects
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