UK oil and gas major, Tullow Oil PLC, is hoping to grow its assets base by the close of 2019.
This is because the company is earmarking $600 million for investment in high value assets in all its operational areas, energynewsafrica.com can report.
As at the end of June this year, Tullow Oil Plc had already spent $264 million on investment.
Out of the $600 million it is expecting to spend, $145 million is targeted at finding new oil.
The company is also anticipating a cash flow of about $400 million by the end of this year.
Meanwhile, Tullow has revised its production target in West Africa in 2019 to between 89-93,000 (bold)
The company’s board has also approved $33 million interim dividend in line with capital return policy.
These developments were contained in Tullow’s overview presentation for September 2019 posted on the company’s website.
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