Overview presentation A leading global independent exploration & production company 19 319mmboe 951mmboe 286,658 2C Contingent Sq km acreage Countries 2P Reserves Resources R&R Figures at HY 2016 Established record of delivering…
Overview presentation The Tullow strategy Additional cash flow from new production Monetisation High Margin Exploration Selective Options & Production and Development Portfolio Cash flow Appraisal Management Costs &…
Overview presentation A sustainable future production base Key production and development Countries with ongoing operations Key oil producing countries TEN field First oil achieved in August 2016 FPSO gross capacity of…
Overview presentation Well-positioned for growth Decisive action taken Financially robust Fit for new oil era Re-set to deal with Step change for Tullow Flexible portfolio with low oil prices: with TEN first oil: major growth…
Overview presentation OVERVIEW PRESENTATION
Overview presentation Proactive financial management Realising the benefits of early actions Significant cost savings 1H 2016 gross G&A of 215m, down 32% from 1H 2015 1H net admin expenses of 69m, down 31% from 1H 2015 Good progress…
Overview presentation Affirmation of Jubilee insurance cover Spread moor Install Revised Long-term FPSO Deepwater Identification operating solution Temporary Permanent Offloading of issue procedures designed heading heading…
Overview presentation Industry leading hedge position Hedge strategy unchanged Tullow has proactively hedged production to protect revenues over the last 10 years Significant liquidity benefit through protecting future revenues and…
Overview presentation Significant Capex reduction in 2017 post TEN project 2500 2016 Capex of c.0.9bn Exploration East Africa Down from initial forecast of 1.1bn West Africa non-op (incl Europe) 2000 TEN 2017 Capex of c.0.5bn…
Overview presentation Managing balance sheet, debt diversification and liquidity Committed Debt Facilities Drawings bn Overall 1.0bn facility headroom plus free cash at liquidity 31 December 2016 (net debt 4.8 bn) 6 c.1.bn 1.0…
Overview presentation Financial strategy provides flexibility for future growth Continuing to drive down Opex and G&A Significant hedging in place for 2017 Financial Capex flexibility post TEN; 2017 c.500m resilience Jubilee turret…
Overview presentation OVERVIEW PRESENTATION
Overview presentation Significant West African oil production growth post TEN 2016 West Africa oil production: 65,500 bopd 2017 guidance: 78 - 85,000 bopd West Africa Oil Production 120 Jubilee Turret Ghana CWA 100 80…
Overview presentation Jubilee long-term asset with flexible investment opportunities Performance in 2016 2016 average gross production: 73,700 bopd Gas exports continue to onshore processing facility Greater Jubilee Full Field…
Overview presentation TEN Project industry leading project execution First Oil achieved on 18 August 2016 Production steadily ramped up Project delivered on time and within budget Exceptional project delivery Focused and empowered…
Overview presentation Firming-up Kenyas oil resources ahead of development Appraisal to continue South Lokichar resource - 750 mmbo; 1 bnbo upside Successful extended well tests in Amosing & Ngamia Water injection testing ongoing 3D…
Overview presentation Progressing Ugandas Lake Albert basin development Substantial farm-down announced in January 2017 Substantial farm-down of assets to Total for 900m consideration 200m cash - 100m on completion, 50m at FID, 50m…
Overview presentation Portfolio with significant future production potential TEN Project delivery Industry leading project execution, first oil on 18 August 2016 Significant resource upside, low cost incremental Ghana upside…
Overview presentation OVERVIEW PRESENTATION
Overview presentation Exploring in the current environment Strategy steadily evolves Exploration continues to be central to Tullows value growth strategy Strong portfolio & attractive programmes adapted for current environment &…
Overview presentation Guyana-Suriname: excellent position in new oil province Liza-1 deepwater oil discovery significantly de-risks the basin & Tullows regional acreage Araku: 500mmbo prospect in four-way closure, good seismic…
Overview presentation Guyana: prospects up-dip of Liza-1 discovery, in shallow water Exploration activity commenced Preparing to acquire 3D seismic Jubilee-like setting up-dip of Liza oil discovery Kaieteur estimated well cost of…
Overview presentation Onshore East Africa: exploring regional oil play Location Activity Uganda Lake Albert 17+ oil fields discovered (90% success) Basin 1.7 billion barrels of oil discovered Kenya North Basin margin play…
Overview presentation Kenya: E&A drilling programme in South Lokichar Basin Material proven oil basin 9 oil accumulations discovered 750mmbo resource base confirmed by tests Significant upside potential Billion barrel basin…
Overview presentation Africa: Long-term future upside & portfolio replenishment LAKE MWERU WANTIPA BASIN Mauritania: exploration shifted to low-cost shelf-edge oil plays Zambia: extension of East African Rift Basin Play;…
Overview presentation Latin America: Significant positions in under-explored region Jamaica: early stage of frontier exploration, interpreting new 2D seismic data Guyana: attractive acreage up-dip of material Liza-1 oil…
Overview presentation Exploration is central to our growth Game-changing opportunities Guyana-Suriname: low-cost, multiple prospect potential Africa: Growth options Oil prone acreage in Namibia, Mauritania and Zambia Kenya:…
Overview presentation OVERVIEW PRESENTATION
Overview presentation Ghana acreage Slide 32
Overview presentation Tullow Oil plc 9 Chiswick Park 566 Chiswick High Road London, W4 5XT United Kingdom Follow Tullow on: Tel: +44 (0)20 3249 9000 Fax: +44 (0)20 3249 8801 Email: irtullowoil.com Web: www.tullowoil.com
Loading...
