Thursday, 22 March 2012, 6 p.m., Edinburgh
Tullow Oil's Exploration Led Growth Strategy
Angus McCoss, Exploration Director, Tullow Oil plc
This event occurred on: Thursday, 22 March 2012, 6 p.m.
Our bold exploration strategy plainly differentiates Tullow. Our area of exploration focus is clear; Africa and the Atlantic Margins. Tullow's core plays are giant stratigraphic traps, oil-prone rift basins and prolific salt basins. We target discovering big volumes of light oil, for premium value, at low finding costs. As Tullow sustainably grows, through exploration we add scale without adding complexity. We are taking ever more material acreage positions, with sensible commitments and low cost exit points, to significantly amplify the commercial follow-up potential in the event of early discoveries. Our unit of scale grows commensurately with our investment in exploration, from individual high-graded prospects in Tullow's early days, through prolific plays, to transformational basin opening in 2007, to where we are today and beyond, exploring systems of related hydrocarbon basins. We present this remarkable growth story with interesting examples of what we have achieved to date and what we aim to achieve in the future.
Angus McCoss was appointed to the Board in December 2006. He is a geologist with a BP sponsored PhD and, prior to joining Tullow in April 2006 as General Manager Exploration, he had 21 years of wide-ranging exploration experience, working primarily with Shell in Africa, Europe, China, South America and the Middle East. He held a number of senior positions within Shell including Americas Regional Vice President Exploration and General Manager of Exploration in Nigeria. He is currently a non-executive Director of Ikon Science Limited and a member of the Advisory Board of the industry-backed Energy and Geoscience Institute of the University of Utah.