Tullow has released an operational update for recent production, development and exploration activities.
Production and Development activities
Exploration and Appraisal activities
Group operations and financials
Aidan Heavey, Chief Executive said, 2009 was another great year for Tullow. We de-risked our portfolio with material discoveries and consolidated our reputation as an exceptional explorer. The Jubilee development in Ghana remains on track and will firmly establish us as an offshore operator in Africa with the ability to deliver world-class projects. Today's equity placing and Ugandan farmdown will ensure that we have the right capital structure to deliver further material value for all stakeholders across our entire portfolio.
"Aligning interests in Uganda with a like-minded long-term partner represents a unique opportunity to create a basin-wide development plan that truly fulfils the needs and expectations of the Government of Uganda and its people.
"In the five extraordinary years since the Energy Africa acquisition in 2004, Tullow has become Africa's leading independent oil company. We have never been in a better position to deliver growth and create opportunities and we look forward to 2010 with confidence."
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