Credit Presentation
Tullow Oil plc
April 2021
Business overview
Tullow Oil plc | Credit presentation
Tullow: A well-established company with a broad footprint
Geographical presence
Côte d'Ivoire Ghana
Guyana
Suriname | Gabon | Kenya |
Peru
Namibia
Producing
Argentina
Exploration and development
Exploration
1 Per TRACS audit report and including impact of Equatorial Guinea sale 2 Includes turret remediation and COVID related costs
Key metrics
FY20 W.I. PRODUCTION | PF YE20RESERVES & | FY20 UNIT OPEX2 | ||
RESOURCES1 | ||||
2P: 250mmboe
74.9kboepd$12.1/boe
2C: 615mmboe
FY20 REVENUE | FY20 ADJ. EBITDAX | FY20 CAPITAL INVESTMENT | ||
$1,396m$804m$288m
2P NPV101 | YE20 PF ADJ. GEARING | |
Tullow Oil plc | Credit presentation | Slide 3 |
Robust audited reserves and resources base
>160%
2020 reserves replacement1
Non-Op, 403
EG | |
38 | 125 |
YE19
243 | 121 | |
mmboe | Jubilee, | |
TEN, 69 | 73 | 141 |
2P NPV10 of c.$3bn2
- Including production
- Per TRACS audit report
- Includes impact of Equatorial Guinea (EG) sale
- Divested in 2020
- Divested in 2021
Guyana, | |
55 | Jubilee, 112 |
47 115
YE19 216
Kenya, | 1,102 |
171 | mmboe |
52
EG
171 245
3
Non-Op,
48
TEN, 230
Substantial value left to unlock from 2C, 60% of which is from producing assets
- Significant value underpinned by a large reserves and resources base
- Two flagship operated assets in Ghana, Jubilee and TEN, both high quality, low cost, long life producing assets
- Only 16% Jubilee STOIIP recovery factor to Dec-20
- Only 8% TEN STOIIP recovery factor to Dec-20
- Diversified non-operated producing assets in Côte d'Ivoire and Gabon with well-defined and profitable investment opportunities
- Set to deliver sustainable self-funded production with material options to generate additional returns
Tullow Oil plc | Credit presentation | Slide 4 |
Highly experienced and committed leadership team
Les
Wood
Chief Financial Officer
- Commercial, Planning & M&A
- Finance & Tax
- Treasury
- IR & Corporate Affairs
- Oil Marketing
Joined Tullow in 2014 as VP Commercial and Finance;
formerly at BP
Wissam
Al-Monthiry
Ghana
- Operations
- Health & Safety
- Integrated technical functions
- Stakeholder & JV Management
Joined Tullow in 2020;
formerly at BP and
Goldman Sachs
Rahul Dhir
Chief Executive Officer
Joined Tullow 2020; formerly Delonex and Cairn India
Mike | Julia | Jean-Medard | ||
Walsh | Ross | Madama | ||
General Counsel | People & Sustainability | Non-op | ||
→ Legal | → Shared Prosperity | → Gabon, CdI, EG | ||
→ Internal Audit & Risk | → Human Resources | → Non-op technical | ||
→ Insurance | → Internal Comms. | → Stakeholder & JV | ||
→ Ethics & Compliance | Management | |||
- Information Systems
Joined Tullow in 2020; | Joined Tullow in 2001; | Joined Tullow in 2012; |
formerly at Delonex, | formerly Corporate | formerly at |
Cairn India | Finance | Schlumberger |
Amalia Madhan
Olivera-Riley | Srinivasan |
Exploration | Kenya |
→ Africa | → Development |
→ NFE and ILX1 | concept |
→ South America | → Licence renewal |
→ Subsurface | → Stakeholder & JV |
Management |
Joined Tullow in 2019; | Joined Tullow in 2014; |
formerly at Repsol and | formerly at Essar |
ExxonMobil | Energy and BP |
Senior Leadership Team (SLT)
1 Near-field exploration and infrastructure-led exploration
Tullow Oil plc | Credit presentation | Slide 5 |
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Tullow Oil plc published this content on 29 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 April 2021 11:19:13 UTC.