Tullow Oil Announces First Gas from Munro Field
|Thursday, August 25, 2005
Tullow Oil plc (Tullow) today announces that natural gas production from its Munro field development commenced on 22 August 2005 at an initial average rate of 55 mmscfd. This has been achieved six weeks ahead of the development schedule and only 16 months after the field was discovered.
The Munro development, Tullow's second UK development in 2005, consists of a single well, a minimum-facilities platform and a 5km pipeline that connects to the Tullow-owned CMS III and CMS infrastructure. The Munro field, in which Tullow has a 15% interest, is expected to produce at a peak rate of 80 mmscfd.
A full update on the rest of Tullow's activities will be provided with their Interim Results on 14 September 2005.
Tullow is a leading independent oil and gas, exploration and production group, quoted on the London and Irish Stock Exchanges (symbol: TLW) and is a constituent of the FTSE 250 Index. The Group has interests in over 90 production and exploration licences in 16 countries and is currently focusing on three core areas: NW Europe, West Africa and South Asia. Tullow's UK interests are primarily focused on gas in the Southern North Sea (SNS). The Group entered the SNS with the acquisition of a portfolio of assets from BP in 2001. Since then, Tullow has substantially extended and enhanced its position through exploration drilling, active development, participation in licensing rounds and a series of bolt-on acquisitions. Group interests include the CMS and the Thames/Hewett areas, where it is the operator of the Hewett fields and of the Bacton Gas Terminal. A further significant step was taken with the completion of the acquisition of the Schooner and Ketch operated assets on 31 March 2005.
In Africa, Tullow has production in Gabon, Cote d'Ivoire, Congo (Brazzaville) and Equatorial Guinea. Tullow also has exploration programmes in Morocco, Mauritania, Senegal, Cameroon, and Uganda.
In South Asia, Tullow has production and exploration interests in Pakistan and exploration activities in India and Bangladesh.
For further information please refer to www.tullowoil.com