Download the CR Report PDF (1.90MB) - Tullow Oil plc

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About us
Tullow Oil plc is one of the largest independent oil and gas exploration
companies in Europe. The Group has 120 licences in 22 countries, with
operations in Europe (primarily in the United Kingdom), Africa and
South Asia. In January 2007, Tullow completed the £595 million
acquisition of Hardman Resources Limited, which materially enhances
the Group’s operations in Mauritania and Uganda and adds high-impact
exploration licences in South America.
Key
E–Exploration
D–Development
P–Production
Tullow is headquartered in London and employs over 250 people
worldwide. The Group’s shares are listed on the London and Irish
Stock Exchanges and Tullow is a constituent of the FTSE250 index.
Tullow had an excellent year in 2006. Record operational and financial
results were achieved in a favourable oil and gas pricing environment,
and each core area continued to deliver strong performances. Sales
revenue increased by 30% to £578.8 million and profit before tax was
up 47% to £263.3 million.
This growth was driven by strong increases in European gas production
against a background of stable African oil production, and sales prices
which were on average 29% ahead of 2005. The Group achieved average
production of 64,720 barrels of oil equivalent per day (boepd) and 89%
organic reserves replacement. Total reserves and resources increased
by 149 millions of barrels of oil equivalent (mmboe) to 506 mmboe.
Current production is over 76,000 boepd, and during 2007 the focus is
on continuing to increase production to a targeted level of 85,000 boepd
by the end of the year and drilling over 30 wells, including major
multi-well campaigns in Uganda, Namibia and India.
For more detailed information on our financial performance and
operations please visit our website.
www.tullowoil.com
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Feedback
We welcome any feedback you have.
Please provide your comments to:
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Graham Brunton
Head of EHS
Tullow Oil plc
3rd Floor
Building 11
Chiswick Park
566 Chiswick High Road
London W4 5YS
Tel: +44 20 8996 1000
Fax: +44 20 8994 5332