Tullow Oil's capital allocation strategy is to focus on its highest return producing assets and to maximise cash flow.
In line with this strategy, Tullow is considering all options with respect to its interest in the Espoir field in Côte d'Ivoire. No formal commitments have been made. In the event this process develops, Tullow will update the market as appropriate.
Background
According to the Company's web site, Tullow has been active in Côte d’Ivoire since 1997. The Group has a non-operated production licence interest in the Espoir field (CI-26) which sits on the edge of the African continental shelf some 19 km from shore; and an operated interest in two offshore blocks adjacent to the Ghana maritime border. Production from Côte d'Ivoire contributed c.1,800 boepd to Tullow’s non-operated portfolio in 2022.
Source: Tullow Oil / energy-pedia
