2015 AGM Tullow Oil plc ANNUAL GENERAL MEETING 30 April 2015
2015 AGM Challenging market for Oil & Gas companies 1. Emerging US shale industry 2. OPEC decision and market reaction in H2 2014 Changed investor focus Significant fall in oil prices in 2014 Effect on oil supply / demand balance…
2015 AGM Business reset for current market conditions Strong production and development business Reduced exploration budget focusing on low cost plays and long term options Reducing costs and dividend suspension provides increased…
2015 AGM West & North Africa 71,300 63,400 580 7 Countries 26 Licences 29 Years experience Sq km boepd mmboe Acreage 2014 production Reserves & Resources West & North Africa Material business with potential to generate m…
2015 AGM Ghana: at the heart of Tullow Strong 2015 Jubilee production and cost Tullows production in Ghana 80 performance 70 Jubilee exceeded production guidance in Q1 at 103,000 60 bopd 50 boepd 40 High FPSO operating…
2015 AGM Progressing East Africa regional development 85,000 2.3 Bbo 1 to 5 Bbo 3 Countries 10 Licences 10+ Years experience Sq Km Discovered Risked Yet to Find Acreage Resources (Gross) Resources (gross) East Africa…
2015 AGM Low-cost exploration options Caribbean-Guyanas Norway Atlantic Margin Plays Atlantic Margin Plays 1. Licence activity 1. Licence activity - Prospecting & - Johan Sverdrup charge farming down fairway (APA 2014) 2.…
2015 AGM Exploration remains at the heart of the business 18 320,000 sq km 200m Countries with 2015 Expl expl activities Expl acreage Budget Ambitious campaigns in Kenya, Norway and South America Building prospect inventory…
2015 AGM Shared prosperity: transparency Transparency 2014 is the third year we have reported payments to governments Payments to governments were lower in 2014 due to a reduction in payments in kind caused by lower production…
2015 AGM Shared prosperity: Invest in Africa A cross-sector group of companies (local & international) working together to support investment into 5 key sectors across Sub Sahara Africa: Infrastructure, extractives,…
2015 AGM Summary: action taken to enhance long term performance Restructuring the business for the current challenging environment Organisational changes will generate savings of c.500m of cost savings over three years Focused on…
2015 AGM Download the Tullow Investor Relations and Media App from the Apple and Android stores: Tullow Oil plc 9 Chiswick Park 566 Chiswick High Road London, W4 5XT United Kingdom Follow Tullow on: Tel: +44 (0)20 3249 9000…
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