Tullow Oil plc has increased its resource base in Gabon with the extension of several of its licences until 2046.
TCHATAMBA
The company said that government approval will add some 5mmbbls net 2P reserves that will deliver 100% 2P reserves replacement 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,” said Tullow in a statement.
“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.”
The company’s Gabon portfolio comprises more than 20 non-operated onshore and offshore fields.