Related Articles
Workers walk past storage tanks at Tullow Oil's Ngamia 8 drilling site in Lokichar
Forward article link
Share PDF with colleagues

Tullow to resume Gabon expansion

The debt-burdened firm’s fortunes appear to be turning

Anglo-Irish independent Tullow Oil’s efforts to bolster its balance sheet appear to be succeeding, as the firm is poised to resume previously deferred expansion works in Gabon. Tullow’s sale of its Gabonese Dussafu Marin permit and its assets in Equatorial Guinea allowed cash to be “re-allocated to accelerate the Simba expansion development in Gabon”, the company says. Work is due to start this quarter and is expected to boost 2021-2022 production. Tullow describes the project as “low-risk, high return”. CEO Rahul Dhir also cites “improved market conditions” as contributing to “operational and financial progress” and says the firm will continue to reduce its debt. $30/bl – Previ



{{ error }}
{{ comment.comment.Name }} • {{ comment.timeAgo }}
{{ comment.comment.Text }}
Also in this section
North Sea independents aim to reap carbon footprint benefits
3 December 2021
Two of the basin’s larger producers consider ways to cash in on relatively greener production
Southeast Asian NOCs take different paths
3 December 2021
Petronas, PTT and Pertamina are pursuing divergent strategies after coming to dominate the region’s upstream in recent years
Aramco back to petchems drawing board
3 December 2021
The Saudi heavyweight’s international downstream expansion strategy will need another reboot
Sign Up For Our Newsletter
Project Data
PE Store
Social Links
Social Feeds
Featured Video