Tullow Oil PLC Start of Multi-Well Drilling Campaign in Ghana (4601U)
April 06 2021 - 2:00AM
UK Regulatory
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RNS Number : 4601U
Tullow Oil PLC
06 April 2021
TULLOW OIL PLC
start of multi-well drilling campaign in ghana
6 April 2021 - Tullow Oil plc (Tullow) is pleased to announce
the start of a multi-year, multi-well drilling campaign offshore
Ghana with the commencement of drilling of the first well at the
Jubilee Field yesterday.
As previously announced, the Maersk Venturer, which has been
contracted for four years, is expected to drill four wells in total
in 2021, consisting of two Jubilee production wells, one Jubilee
water injector well and one TEN gas injector well.
The 2021 drilling campaign is the first part of Tullow's 10-year
Business Plan which was presented at Tullow's Capital Markets Day
in November 2020. The Ghana portfolio has a large resource base
with extensive infrastructure already in place. Through a rigorous
focus on costs and capital discipline, Tullow believes that these
assets have the potential to generate material cash flow over the
next decade and deliver significant value for Ghana and
investors.
Throughout this campaign, Tullow will continue to implement its
Shared Prosperity strategy through a strong local content programme
with suppliers in Ghana, the professional and technical development
of Ghanaian nationals and continued investment in STEM education,
enterprise development and shared infrastructure.
Rahul Dhir, Chief Executive Officer, Tullow Oil plc, commented
today:
"Today is an important milestone in the implementation of our
long-term Business Plan. Working closely with the Government of
Ghana and our joint venture partners in Ghana, I am confident that
we will unlock the full potential from the Jubilee and TEN fields
through this multi-year, multi-well drilling programme."
CONTACTS
=========================================== ===================
Tullow Oil plc Murrays
(London) (Dublin)
(+44 20 3249 9000) (+353 1 498 0300)
George Cazenove (Media) Pat Walsh
Matthew Evans and Chris Perry (Investors) Joe Heron
=========================================== ===================
Notes to editors
Tullow is an independent oil & gas, exploration and
production group which is quoted on the London, Irish and Ghanaian
stock exchanges (symbol: TLW) and is a constituent of the FTSE250
index. The Group has interests in over 50 exploration and
production licences across 10 countries including Ghana where it
operates the Jubilee and TEN fields. In March 2021, Tullow
committed to becoming Net Zero on its Scope 1 and 2 emissions by
2030.
For further information, please refer to our website at
www.tullowoil.com
Follow Tullow on:
Twitter: www.twitter.com/TullowOilplc
YouTube: www.youtube.com/TullowOilplc
Facebook: www.facebook.com/TullowOilplc
LinkedIn: www.linkedin.com/company/Tullow-Oil
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END
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