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Wednesday, 07 January, 2009, 21:50 GMT | more >>

Tullow output on the rise



By Upstream staff 

UK-based Tullow Oil produced an average of 69,700 barrels of oil equivalent per day during the first half of 2007, an 11% increase year-on-year, the company said today.

Production was close to expectations, apart from the UK where delays to drilling programmes and the reallocation of capital have resulted in a reduction to 2007 production forecasts, Tullow said.

Tullow said its current output is at 75,000 boepd, adding it expects to average at between 72,000 and 75,000 boepd for 2007 as a whole.

Meanwhile, Tullow also said today it was not interested in buying Canada’s Heritage Oil, a partner in Tullow’s Ugandan project.

Tullow chief financial officer Tom Hickey denied Tullow was the natural buyer for Heritage, given its existing commitments in the region.

"That's probably enough of Uganda for us," he told Reuters.


Wednesday, 11 July, 2007, 07:36 GMT  | last updated: Wednesday, 11 July, 2007, 08:30 GMT

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