Tullow Oil plc Tullow Oil plc Half Year Results 15 September 2021
OVERVIEW Tullow Oil plc 2021 Half Year Results
Tullow: A leader in Africa Tullow is a leading We are committed to We maximise value through operational African Oil & Gas responsible & safe excellence and technical expertise in engineering, Company operations subsurface and…
Positive steps during a transitional year Significant progress in 1H Near-term catalysts Clear path to value creation Reliable operating performance Organic growth from existing assets Plan supports material deleveraging Consistent…
Building a better future for our host countries RESPONSIBLE OPERATIONS NET ZERO Low cost and capital efficient Targeting Net Zero by 2030 by operations that ensure the reducing carbon emissions, safety and wellbeing of our helped…
Targeting Net Zero by 2030 (Scope 1 & 2) 2020 Jubilee gas emissions de-bottlenecking baseline to eliminate routine flaring Gas compressor work and capacity TEN process expansion modifications to eliminate routine flaring…
FIRST HALF RESULTS Tullow Oil plc 2021 Half Year Results
2021 Half Year Results 93 1H20 1H21 1H20 1H21 30 June 20 30 June 21 1H202 1H21 Revenue (m) Opex (/boe)1 LTM Adjusted EBITDAX (m) Profit after tax (m) 1H20 1H21 1H20 1H21 30 June 20 30 June 21 30 June 20 30 June 21 Capital…
2021 Guidance Key guidance figures Group production breakdown 60.0 58-61kboepd c. 260million c.90million 17.9 2021f Group production (kboepd) Production Capex Decommissioning 15.7 c. 0.6billion c.13/boe c.50million…
Business plan supports deleveraging target Sources and uses of cash 2021-25 (65/bbl flat nominal) 4.0 Business plan generates material cash flow to support deleveraging and significantly reduce debt by 2025 and reach gearing…
MAXIMISING VALUE FROM OUR ASSET BASE Tullow Oil plc 2021 Half Year Results
Delivering reliable production performance Wells Uptime First new Jubilee production well onstream delivering good rates High efficiency from Ghana FPSOs, averaging 98% Group production guidance narrowed upwards Jubilee water…
Jubilee - Extensive untapped remaining resource Jubilee North East Jubilee has nearly 2 billion EUR: 98mmbbls barrels oil initially in place 13 87% Jubilee Core: MH5 Targeting recovery of c.40% Jubilee Core: MH4+3 EUR: 94mmbbls…
Eastern Jubilee Sanctioned projects near existing infrastructure Highly profitable projects east of Jubilee core areas Jubilee South East - Subsea production loop and water injection manifold - Infill well opportunities require only…
Significant additional resource potential from TEN fields TEN Development & Production Area TNAG TEN has approximately 1 billion Enyenra North Gas in place: 138 bcf barrels oil initially in place Oil in place: 67 mmbo 100% 100%…
Non-operated portfolio Collaborative approach creates value Portfolio highlights Simba high-value near field project delivery 8.0 Field significantly exceeding sanction case: Steady production & - Expected recovery almost 5x higher…
Unlocking value from selective emerging basins Emerging basins of Guyana and Argentina Beebei Potaro high impact exploration well targeting Cretaceous light oil play in Kanuku Block Opportunities to extract Continue to mature…
Building confidence in Kenya resources & recovery 2.85 billion bbls STOIIP1 confirmed 2C of 585 million bbls represents by independent auditor2 c.20% of oil-in-place 585 million bbls 2.85 (Tullow net 231) billion bbls 433…
Kenya optimisation has created a robust project Plateau production rate of 120kbopd based on EOPS productivity data 120 120kbopd Gross production (kbopd) Flowrates from Amosing and Ngamia EOPS wells provided confidence of…
Well-defined projects support production potential Five-year activity outlook 2021 2022 2023 2024 2025 Infill Jubilee Jubilee SE Jubilee NE Additional wells and infrastructure-led exploration Facilities expansion TEN Infill…
Pipeline of projects to replenish and grow reserves 400 Net volume (mmboe) 350 300 Set to deliver sustainable self-funded production Potential 2P 250 reserves 2P reserves Visible reserves replacement 200 c.115-120 from…
CONCLUSION Tullow Oil plc 2021 Half Year Results
Tullow: A leader in Africa Tullow is a leading We are committed to We maximise value through operational African Oil & Gas responsible & safe excellence and technical expertise in engineering, Company operations subsurface and…
Tullow Oil plc 9 Chiswick Park, 566 Chiswick High Road London W4 5XT United Kingdom Tel: +44 (0)20 3249 9000 Fax: +44 (0)20 3249 8801 Email: irtullowoil.com Web: www.tullowoil.com Follow Tullow on:
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