If you are interested in buying Tullow Oil shares, read on to find out more about the company.

 

Tullow Oil is a global oil and gas exploration company. The company was founded in Tullow, Ireland and now has its head office in London, England. Tullow Oil has a primary listing on the London Stock Exchange and is part of the Index. It also has secondary listings on both the Ghana Stock Exchange and the Irish Stock Exchange.

 

If you are considering Tullow Oil shares it is interesting to know that they are leaders in the oil and gas exploration sector. In 2018 it was reported that 90,000 barrels of oil per day were produced. It is expected that this will be between 94,000 and 102,000 barrels of oil per day by the end of 2019.

 

Tullow Oil works with 87 exploration and production licenses across 17 countries. The company employs 990 people in its 28 producing fields which have an average acreage of 267,000 sq KM. The 17 countries are divided into three business delivery teams. These teams are West Africa, East Africa, East Africa, and New Ventures.

 

Tullow Oil has a vision of being “sustainable, progressive and the leading African oil company” by 2030. The company work towards this vision with three teams.

 

Tullow Oil in West Africa

The team in West Africa focus on production and growth projects in this area. It also manages the group’s UK companies. Tullow Oil’s flagship assets, the Jubilee and TEN fields in Ghana all come under this team. In 2018 production in the UK North Sea ended. Discharging these assets is likely to be finished by 2025.

 

Tullow Oil in East Africa

The team in East Africa look after the large oil fields found in Uganda and Kenya. They also focus on exploring across Tullow Oil’s sites in Kenya. The East Africa region is a main area of growth. One to watch for anyone considering Tullow Oil shares. The company is working with the Kenyan and Ugandan governments to move these projects forward.

 

Tullow Oil New Ventures

This team is in charge of new activity across Africa and South America. Their task is to find prospects of high-value oil at low costs in areas with good license terms. Tullow oil has a strong license position in some of the best oil exploration areas in the world. It is expected to drill an average of 3-5 low-cost wells across Africa and South America in the future.