Tullow lays out 2013 plans

Laying out plans: Tullow chief executive Aidan Heavey

BLOOMBERG

related stories

Josh Lewis

 11 January 2013 09:00 GMT

London-listed Tullow Oil has revealed it is planning to drill 40 wells as it targets net unrisked mean volumes of about 1 billion barrels of oil equivalent in 2013.

The high-impact exploration and appraisal programme will see the company drill up to 11 wells in Kenya and Ethiopia this year.

That number includes the Paipai-1 wildcat Tullow is currently drilling on Block 10A in Kenya’s Rift Valley that will test Cretaceous and Jurassic sandstone targets.

Tullow also said on Friday that it was planning to spud the Sabisa-1 well on the South Omo Block in Ethopia within the next two weeks.

The exploration and appraisal programme will represent an investment of about $900 million out of the company’s total forecast capital expenditure…

Become an Upstream member!

Membership includes a subscription to our weekly newspaper providing in-depth news from the energy industry, plus full-access to this site and its archives. Still not convinced? Try our free trial.

Already a member?

Login

Upstream share price index