Tullow Oil PLC New offshore exploration licence in Côte d'Ivoire
December 14 2022 - 2:00AM
RNS Non-Regulatory
TIDMTLW
Tullow Oil PLC
14 December 2022
TULLOW OIL PLC
Tullow signs Production Sharing Contract for new offshore
exploration licence in C ô te d'Ivoire
14 December 2022 - Tullow Oil plc (Tullow) is pleased to
announce the signing of a Production Sharing Contract (PSC) for
offshore exploration licence CI-803 in Côte d'Ivoire. Tullow will
operate the licence with 90% equity, the remaining 10% is held by
PetroCi. CI-803 covers an area of 1,345 square kilometres and is
adjacent to licence CI-524 which is also held by Tullow (90%,
operator) and PetroCi (10%).
With this new exploration licence, Tullow strengthens its
position in the Tano Basin where significant prospectivity has been
identified within the proven Cretaceous turbidite plays, similar to
the plays which are producing in the adjacent TEN and Jubilee
Fields. The work programme for the initial two and a half years
includes reprocessing of existing 3D seismic data, along with
prospect evaluation. In CI-524, a number of drill candidates are
being matured while preparations continue for an exploration well
to be drilled during 2024.
Rahul Dhir, Chief Executive Officer, Tullow Oil plc, commented:
"This new licence underscores our strong commitment to investing in
and unlocking the resource potential in Côte d'Ivoire. Our
exploration strategy is focussed around existing producing fields
in basins where we have a differentiated understanding, in this
case through our deep understanding of the Tano Basin."
CONTACTS
Tullow Oil plc Camarco
(London) (London)
(+44 20 3249 9000) (+44 20 3781 9244)
Robert Hellwig Billy Clegg
Matthew Evans Georgia Edmonds
Rebecca Waterworth
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Notes to editors
Tullow is an independent oil & gas, exploration and
production group which is quoted on the London and Ghanaian stock
exchanges (symbol: TLW) and is a constituent of the FTSE250 index.
The Group has interests in over 30 exploration and production
licences across eight countries. In March 2021, Tullow committed to
becoming Net Zero on its Scope 1 and 2 emissions by 2030. For
further information, please refer to our website at
www.tullowoil.com .
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END
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