2007 Business summary
Tullow has a balanced portfolio of exploration and production assets with interests in 106 licences across 23 countries in four core areas. The largest core area is Africa, which represents over 50% of Tullow’s production and sales revenue and more than 80% of the Group’s reserves and resources. Tullow focuses on gas exploration and production in the UK, has a growing South Asia business and has recently gained interests in South America with high impact exploration potential.
Africa
2007 saw Tullow achieve record African production from its operations in Côte d’Ivoire, Congo (Brazzaville), Equatorial Guinea, Gabon and Mauritania. The Group also has an extensive African exploration portfolio.
Europe
Tullow’s European production comes from its gas assets in the UK Southern North Sea. Recently acquired exploration licences in Portugal and the Netherlands provide longer-term growth opportunities.
South Asia
The Group has gas production from Pakistan and Bangladesh and high impact exploration acreage in India.
South America
Tullow is focused on applying its West African geological expertise to similar plays in this region.
Acreage overview
| Region | Licences | Acreage (sq km) |
|---|---|---|
| Africa | 50 | 144,076 |
| Europe | 39 | 14,773 |
| South Asia | 12 | 40,004 |
| South America | 5 | 41,367 |
| Total | 106 | 240,220 |
Drilling activities
| Region | Exploration/Appraisal wells | Discoveries | Development wells |
|---|---|---|---|
| Africa | 8 | 5 | 77 |
| Europe | 3 | 1 | 3 |
| South Asia | – | – | 1 |
| South America | 5 | 3 | – |
| Total | 16 | 9 | 81 |
