2011 Annual Report PDF - Tullow Oil plc

Notes to the Group financial statements continued
Year ended 31 December 2011
Note 3. Segmental reporting continued
Europe,
South America
and Asia
$m
West and
North Africa
$m
South and
East Africa
$m
Unallocated
$m
2009 (restated)
Sales revenue by origin 270.5 645.4 – – 915.9
Segment result (4.7) 231.9 (2.0) – 225.2
Profit on disposal of subsidiaries 16.0
Profit on disposal of oil and gas assets 4.9
Unallocated corporate expenses (77.6)
Operating profit 168.5
Loss on hedging instruments (59.8)
Finance revenue 2.1
Finance costs (60.8)
Profit before tax 50.0
Income tax expense (1.9)
Profit after tax 48.1
Total assets 923.7 2,836.2 1,328.4 54.5 5,142.8
Total liabilities (333.3) (745.1) (236.6) (1,379.3) (2,694.3)
Other segment information
Capital expenditure:
Property, plant and equipment 52.7 498.6 – 9.4 560.7
Intangible exploration and evaluation assets 41.4 440.3 200.5 2.5 684.7
Depletion, depreciation and amortisation (134.9) (214.5) – (9.8) (359.2)
Impairment losses recognised in income statement – (12.5) – – (12.5)
Exploration costs written off (59.9) (18.7) (2.0) (2.1) (82.7)
Total
$m
Sales revenue by origin
Ghana 1 930.3 – –
Equatorial Guinea 1 372.5 343.4 257.2
Côte d’Ivoire 1 79.2 75.4 82.4
Gabon 1 447.1 306.5 202.8
Congo 1 80.9 79.4 68.8
Mauritania 1 34.0 47.2 34.2
Total Africa 1,944.0 851.9 645.4
UK 272.0 216.8 248.6
Netherlands 67.4 – –
Total Europe 339.4 216.8 248.6
Pakistan 1.0 0.6 2.7
Bangladesh 19.8 20.5 19.2
Total Asia 20.8 21.1 21.9
Total revenue 2,304.2 1,089.8 915.9
1. Included within the West and North Africa region.
128
Tullow Oil plc 2011 Annual Report and Accounts
2011
$m
2010
$m
2009
$m