Tullow Oil May Group Production In Line With Expectations

Tullow Oil plc (TLW.L) said that group production to the end of May 2021 averaged 62,000 bopd, in line with expectations. The figure reflected the completion of the sale of its Equatorial Guinea interests on 31 March 2021, with no production from the assets recorded past the first quarter.

The company said it is delivering cost savings across the business including annual G&A cash savings of $125 million.

Tullow announced in March that it aims to become Net Zero by 2030 as part of commitment to sustainability. In addition, the company maintained its commitment to social investment and developing local content.

The company said it recognizes its role in reducing emissions and we have a clear route to achieve significant improvements in its performance by 2025, ahead of being Net Zero on scope 1 & 2 emissions by 2030.

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