Tullow grows Gabonese production with several license extensions
(WO) – Tullow has gained approval from the Government of Gabon for the extension of several of its Gabon licenses to 2046.
The license extensions increase the value of Tullow’s resource base through the addition of 5 MMbbl net 2P reserves that will deliver 100% 2P reserves replacement in Gabon this year.
This activity is in line with the group’s strategy to focus on its high return production assets in Africa and unlock value through optimization of its non-operated portfolio. The extensions reflect the future potential of the reserves and resources across the Gabonese assets and the longevity of the Tchatamba facilities as a core hub for Tullow.
Tullow is an independent oil and gas exploration and production group. The group has interests in over 30 licenses across eight countries.