Comprehensive  Ghana Oil and Gas news, information, updates, analysis


News in Brief

Tullow Posts High Returns

  • SOURCE: | Editor
  • Ghana’s Jubilee Oilfield has driven Tullow Oil Plc’s half-year revenue to record sales of over one billion dollars. This, according to a statement released by Tullow, details its 2011 half year financial results.

    The impressive results were driven mainly by increased production from the Jubilee oilfield in Ghana and the increment of crude oil prices on the international market over the period.

    Jubilee production in Ghana is expected to increase to 105,000 barrels in October and the plateau production of 120,000 barrels is now expected before the end of the year.

    The Communication Manager for Tullow Oil Ghana, Gayheart Mensah said in an interview with Citi Business News that they are happy with the performance of Tullow Oil so far. “For Tullow we have designated this year as a year for transformational progress and I think our impressive results can speak to that particular fact.” “We have been able to maintain a very robust performance on the back the public performance of the Jubilee Field.”

    Tullow had 71percent exploration and appraisal success across its portfolio in the world.

    The company says the success in the first half of the year was also as a result of the group’s strengthened portfolio with farm-ins in East Africa and two strategic acquisitions. Further progress was made in Uganda and Tullow now expects completion of its farm-down to CNOOC and Total in September.

    In July the Group listed Tullow Oil plc shares on the Ghana Stock Exchange (GSE).

     

    http://business.peacefmonline.com/news/201109/66502.php

     

    Share this article

    Leave a reply

    Personality of the Month
    Poll

    Do you think the President should fund the free SHS with oil revenue?

    Follow Us Online
    About Us
    Reporting Oil and Gas project was launched on 4th June 2009 at Takoradi, Western Region, Ghana by Penplusbytes (www.penplusbytes.org) with the vision of providing a one stop online information and knowledge about Ghana’s oil and gas sector read more
    Events Calendar
    << Jun 2018 >>
    MTWTFSS
    28 29 30 31 1 2 3
    4 5 6 7 8 9 10
    11 12 13 14 15 16 17
    18 19 20 21 22 23 24
    25 26 27 28 29 30 1
    Twitter Activity Stream
     

    Partners We are proud to be associated with:

    Skip to toolbar