Tullow extols Kenya pipeline plan

Nairoberry · 2012-07-26T10:23:00+00:00

Tullow Oil has argued that the early exploration success in the rift valleys of Kenya and Ethiopia could help reduce export costs for production from the Ugandan fields being developed along with Total of France and Cnooc of China. Angus McCross, Tullows exploration director, said the routing of a pipeline from Uganda through acreage recently acquired by Tullow in Kenya could make it cheaper to export oil from the landlocked east African country and its coastal neigbours The remarks, which accompanied interim results from the FTSE 100 oil company which were largely in line with analysts expectations, came three weeks after Tullow indicated a big oil discovery made in Kenya earlier this year was even larger than initially thought and described Kenya as the next transformational opportunity set for the company. Meanwhile Tullow was continuing to push ahead with exploration off French Guiana on the northern coast of South America where it also announced a major discovery last September. Ian Springett, chief financial officer, said Tullow expected to hold capital expenditure at $2bn for the year across its key projects, in line with earlier guidance. Tullow extols Kenya pipeline plan - FT.com

Thread starter Nairoberry
Start date Jul 26, 2012

Nairoberry

JF-Expert Member

Jul 26, 2012

Nairoberry

JF-Expert Member

Jul 26, 2012

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