REG - Tullow Oil PLC - GABON LICENCE EXTENSIONS

Tullow OilAnnouncement

09/08/2023 07:00

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RNS Number : 7103I  Tullow Oil PLC  09 August 2023

TULLOW OIL PLC
Gabon LICENCE EXTensions

 

9 August 2023 - Tullow is pleased to announce that it has gained approval from
the Government of Gabon for the extension of several of its Gabon licences to
2046.

The licence extensions increase the value of Tullow's resource base through
the addition of c.5mmbbls net 2P reserves that will deliver c.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 optimisation 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.

-ENDS-
 

CONTACTS
 Tullow               Camarco

 (London)             (London)

 (+44 20 3249 9000)   (+44 20 3781 9244)

 Nicola Rogers        Billy Clegg

 Matthew Evans        Georgia Edmonds

                      Rebecca Waterworth

 

Notes to editors

Tullow is an independent oil & gas, exploration and production group which
is quoted on the London and Ghanaian stock exchanges (symbol: TLW). The Group
has interests in over 30 licences across eight countries. In March 2021,
Tullow committed to becoming Net Zero on its Scope 1 and 2 emissions by 2030.
For further information, please refer to our website at www.tullowoil.com
(http://www.tullowoil.com/) .

Follow Tullow on:

Twitter: www.twitter.com/TullowOilplc (http://www.twitter.com/TullowOilplc)

YouTube: www.youtube.com/TullowOilplc (http://www.youtube.com/TullowOilplc)

Facebook: www.facebook.com/TullowOilplc (http://www.facebook.com/TullowOilplc)

LinkedIn: www.linkedin.com/company/Tullow-Oil
(http://www.linkedin.com/company/Tullow-Oil)

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