LONDON (dpa-AFX) - Tullow Oil Plc (TLW.L), a British oil and gas exploration company, in an update on Wednesday posted a rise in revenue and oil production for the fiscal 2022. Rahul Dhir, CEO
Tullow Oil has issued the a statement in advance of the Group’s 2022 Full Year Results scheduled for 8 March 2023. Strong operational delivery, rigorous focus on costs and capital discipline, the increased equity in key operated fields in Ghana and higher oil prices drove material, expectation-beating free cash flow generation in 2022, accelerating the Group’s deleveraging towards a net debt to EBITDAX ratio of 1.3 times by the year-end.
Tullow Oil PLC (Tullow) has signed a Production Sharing Contract (PSC) for offshore exploration licence CI-803 in Côte d’Ivoire. Tullow will operate the licence with 90% equity, while the remaining 10% is held by PetroCi. A statement from Tulllow said license CI-803 covers an area of 1,345 square kilometres and…