Tullow Oil plc (Tullow Oil or 'the group') is a UK-based group engaged in the exploration, development, and production of oil and gas. The group has operations in Europe, Africa, South Asia, and South America.
The group's reportable divisions are segregated by business delivery teams which include: West Africa; East Africa and New Ventures.
Through West Africa segment, the group focuses on Tullow Oil’s production and development projects in West Africa. The group’s European production is also managed by this segment. The segment has interest in 54 licenses in seven countries. During FY2016, the group recorded a total production of 67,100 barrels of oil equivalent per day (Boepd) covering 16,185 square kilometers. The region had total reserves of 553.5 million barrels of equivalent (mmboe) of oil and gas.
Tullow Oil has operations in a number of non-operated fields in Ghana (with one operated file named Jubilee), Equatorial Guinea, Gabon, Cote d'Ivoire and Congo (Brazzaville). The segment also manages the group’s UK and the Netherlands gas production, which is part of an ongoing divestment plan. Ghana has two licenses and producing fields covering 1,080 square kilometers with a total production of 33,100 Boepd. Equatorial Guinea has two licenses and producing fields covering 262 square kilometers with a total production of 7,000 Boepd. Gabon has 23 licenses and 21 producing fields covering 10,829 square kilometers with total production of 14,300 Boepd. Cote d'Ivoire has one license and one producing field covering 235 Square kilometers with a total production of 4,000 Boepd. Congo has one license and one producing field covering 146 square kilometers with a total production of 1,500 Boepd. The Netherlands has eleven licenses and 33 producing fields covering 2,881 square kilometers with a total production capacity of 2,900 Boepd and the UK has 14 licenses and eight producing fields covering 752 square kilometers with a total production of 3,300 Boepd.
In FY2016, the West Africa segment reported revenues of $1,269.9 million, which accounted for 100% of the group's total revenue.
Under the East Africa segment, Tullow Oil is responsible for realizing value from the significant oil discoveries made in Uganda and Kenya. The segment is also focused on continued exploration activity across the group’s extensive acreage position in Kenya. It has interests in seventeen licenses in two countries, including Kenya and Uganda. It has exploration and development activities covering a total acreage of 50,344 square kilometers, as of FY2016. At the end of FY2016, the region had total reserves of 639.6 mmboe of oil and gas. This is responsible for realizing value from the significant oil discoveries made in Uganda and Kenya to date. In 2016, the group discovered 1.7 billion barrels of oil in Uganda and 750 million barrels of oil in Kenya.
The New Ventures segment is responsible for the group’s frontier exploration and appraisal activity largely across Africa and South America. It has interests in 31 Licenses in nine countries (Guyana, Jamaica, Mauritania, Namibia, Norway, Pakistan, Suriname, Uruguay and Zambia) covering 186,505 square kilometers as of FY2016. This includes new license acquisitions, extended acreage in prospective South America region by entering Orinduik license, offshore Guyana, Norway assets divestment and Portfolio of high-grading process ongoing with exits agreed from Madagascar, Ethiopia, French Guiana, Guinea, Greenland and Norway.
Guyana has two licenses covering 8,301 square kilometers. A new Orinduik license was awarded during 2016 and the group is planning to acquire 3D seismic data over the offshore Orinduik license, awarded in 2016, and Kanuku license which are located up-dip of ExxonMobil’s Liza oil discovery. Jamaica has one license covering 32,065 square kilometers; Mauritania has four licenses and one producing field covering 31,106 square kilometers with a total production of 1,000 Boepd; and Namibia has two licenses with an acreage of 23,095 square kilometers. Norway had 13 licenses and four exploration wells with an acreage of 7,058 square kilometers. However, the group has held for sale all of its assets in Norway which are expected to complete the divesture by the end of April 2017.
Pakistan has five licenses covering 13,064 square kilometers with one exploration well in 2016. Suriname has two licenses with an acreage of 10,849 square kilometers. Uruguay and Zambia has one license each with an acreage of 8,030 and 53,200 square kilometers.
Geographically, the group classifies its operations into nine segments, namely Ghana, Gabon, Equatorial Guinea, the UK, Cote d’Ivoire, Netherlands, Mauritania, Congo, and Norway. In FY2016, Ghana segment accounted for 52.5% of the group's total revenues, followed by Gabon with 19.0%; Equatorial Guinea with 11.1%; the UK with 6.4%; Cote d’Ivoire with 4.8%; Netherlands with 2.5%; Mauritania with 1.9%; and Congo with 1.8%.
Scope of the Report
-- About the Company - Historical Details, Current Ownership Structure and basic overview of Tullow Oil plc in terms of revenue, net income, and operating income.
-- Financials - Details about Tullow Oil plc listing status, annual financial reports (for the past 5 years), key financial highlights and region wise and category wise breakdown of their net revenue.
-- Products / Services - Listing of the company’s entire portfolio along with description of individual products / services providing a clear picture of their target audience.
-- Company SWOT Analysis - Outlines Tullow Oil plc’s strengths, weaknesses, and opportunities and threats facing the company.
-- Recent Developments - Showcases Tullow Oil plc’s recent developments including mergers, acquisitions, partnerships, collaborations, new product launches, investment and divestment plans.
-- Strategic Evaluation - Provides an overview of Tullow Oil plc’s corporate goals and strategic initiatives and evaluates their outcomes along with outlining any persisting legal issues and outlook of our in-house analyst panel on the particular company.
-- Technology Landscape - Details how the company allocates its IT budget across the core areas of its business, CIO/CTO Profile, Key IT Initiatives and Deals undertaken buy the company at present along with outlook.
Key Questions Answered
-- What domain does Tullow Oil plc operate and what are key points about it?
-- What is the product / service portfolio of Tullow Oil plc?
-- How has Tullow Oil plc performed financially from the 2013?
-- How does Tullow Oil plc rank among its peers in terms of revenue and market share?
-- What are Tullow Oil plc strengths and weaknesses and what opportunities and threats does it face?
-- What are Tullow Oil plc’s main growth strategies and how successful has the company been at implementing them?
-- What is the in-house technical capability of Tullow Oil plc? Where does it procure / outsource it?
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1. About the Company
1.1 History and Basic Facts
1.2 Ownership Structure and Key Executives
1.3 Head Office
1.4 Other Locations & Subsidiaries
1.5 List of Competitors
1.6 Employee Count & Distribution
2.1 Company Type (Listed / Unlisted)
2.2 Annual Statements
2.3 Key Financial Highlights
2.4 Region-wise Breakdown
3. Product / Services
4. SWOT Analysis
4.1 SWOT Overview
5. Recent Developments
5.1 Mergers & Acquisitions
5.2 Partnerships, Collaborations & Joint Ventures
5.3 New Product Launches
5.4 Business Expansion / Divestment
6. Strategic Evaluation
6.1 Corporate Strategy
6.2 Legal Issues
6.3 Analyst Outlook
7. Technology Landscape
-- 7.1.1 Industry Snapshot
-- 7.1.2 IT Spend
-- 7.1.3 Key Information Technology Trends
-- 7.2.1 IT Overview
-- 7.2.2 Key IT Technologies
-- 7.2.3 Recent IT Initiatives
-- 7.2.4 IT Outsourcing Engagements
-- 7.2.5 Key IT Management
-- 7.2.6 CIO/CTO Profile
-- About Us
-- Contact Us