LONDON (Thomson Financial) - Tullow Oil Plc said it expects production of
70,000 to 72,000 barrels of oil equivalent per day and capital spending of 480
million pounds for 2008.
In the first half, output rose 1 percent to 70,550 boepd, with sales volume
averaging around 60,000 boepd. Capital spending was around 170 million pounds
for the half-year period.
Tullow said the disposal of $1 billion worth of non-core assets it announced
in the first half will net around 400 million pounds of profit.
It reiterated the Mahogany-2 well on the Jubilee field in Ghana confirmed
the site's potential resources of 500 million to 1.8 billion barrels. Jubilee
remains on track to achieve first oil in 2010.
monicca.egoy@thomsonreuters.com
mbe
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