{"id":4339,"date":"2016-02-10T08:56:52","date_gmt":"2016-02-10T08:56:52","guid":{"rendered":"http:\/\/www.oilnewskenya.com\/?p=4339"},"modified":"2017-01-26T09:19:17","modified_gmt":"2017-01-26T09:19:17","slug":"tullow-oil-to-focus-on-seismic-surveys-in-2017-as-exploration-expenditure-drop","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/tullow-oil-to-focus-on-seismic-surveys-in-2017-as-exploration-expenditure-drop\/","title":{"rendered":"Tullow Oil To Focus on Seismic Surveys in 2017 As Exploration Expenditure Drop"},"content":{"rendered":"

Following the earlier announced<\/a> cut in exploration costs by Tullow oil the explorer has said it will focus on seismic surveying, processing and interpretation, high-grading and progressing leads to drill worthy prospects as oil prices continue to remain at an all-time low.<\/p>\n

Tullow Oil which has set just $100 million for exploration adds it will also continue seeking low cost and highly prospective acreage in core areas to ensure that the business maintains its industry-leading exploration portfolio.<\/p>\n

\u201cExploration will continue to be a key part of Tullow\u2019s long-term growth strategy, however, given sustained low oil prices, capex will be around $0.1 billion in 2016,\u201d says Tullow Oil CEO Aidan Heavey.<\/p>\n

On development projects phase Tullow Oil which submitted a draft Field Development Plan to the Government of Kenya in December 2015 says the plan will form discussions towards potential FID for both the Kenya and Uganda.<\/p>\n

The cut in exploration costs are part of Tullow\u2019s plan to reduce its overall capital expenditure to just $300 million in 2017 from $1.1 billion in 2016.In the past year administrative costs expected to rise to $194 million and restructuring costs were up by $41 million.<\/p>\n

Meanwhile the group has reported a full year loss after tax of $1.03 billion largely driven by costs from exploration writes off which stood at $749 million. The loss was however 37 percent lower compared to $1.64 billion loss in 2015 when costs from exploration writes off hit a staggering $1.65 billion.<\/p>\n","protected":false},"excerpt":{"rendered":"

Following the earlier announced cut in exploration costs by Tullow oil the explorer has said it will focus on seismic surveying, processing and interpretation, high-grading and progressing leads to drill … Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":4243,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[11],"tags":[100,4063,671,4059,4064,4062,1252,4065,4061,4060,2571,2603],"class_list":["post-4339","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-top-news","tag-aidan-heavey","tag-draft-field-development-plan","tag-east-africa","tag-exploration-capex","tag-fid","tag-interpretation","tag-kenya","tag-loss-after-tax","tag-processing","tag-seismic-surveying","tag-tullow-oil","tag-uganda","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2016\/01\/Tullow-Oil.jpg?fit=699%2C466&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-17Z","jetpack-related-posts":[{"id":4468,"url":"https:\/\/www.oilnewskenya.com\/index.php\/tullow-oil-hits-dry-well-in-cheptuket-well-in-block-12a-source\/","url_meta":{"origin":4339,"position":0},"title":"Tullow Oil Hits Dry Well in Cheptuket Well in Block 12A \u2013 Source","author":"","date":"March 11, 2016","format":false,"excerpt":"Three months after the drilling of the wildcat well in block 12A commenced OilNews Kenya has learnt from a source who chose to be anonymous that the well has since been completed with no significant hydrocarbon shows. The well which spud on December 28th 2015 by the PR Marriott Rig-46\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2015\/07\/Mariott-Rig-with-watermark.jpg?fit=900%2C1200&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2015\/07\/Mariott-Rig-with-watermark.jpg?fit=900%2C1200&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2015\/07\/Mariott-Rig-with-watermark.jpg?fit=900%2C1200&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2015\/07\/Mariott-Rig-with-watermark.jpg?fit=900%2C1200&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":568,"url":"https:\/\/www.oilnewskenya.com\/index.php\/tullow-oil-sets-eyes-on-western-kenyas-nyakach-district\/","url_meta":{"origin":4339,"position":1},"title":"Tullow Oil sets eyes on Western Kenya\u2019s Nyakach district","author":"Samuel Kamau Mbote","date":"February 22, 2014","format":false,"excerpt":"British explorer Tullow Oil has said it is to start 2D seismic surveys in Nyanza province\u2019s Kisumu County where it believes has potential for oil. The survey is part of a continuation of studies carried out in 2012 in Block 12B that showed various counties including Kisumu, Homa Bay, Migori\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/02\/swala-energy-kenya-1-sm1.jpg?fit=337%2C328&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":7288,"url":"https:\/\/www.oilnewskenya.com\/index.php\/discover-exploration-limited-farms-blocks-35-36-37-tullow-oil-offshore-comoros\/","url_meta":{"origin":4339,"position":2},"title":"Discover Exploration Limited Farms Out Blocks 35, 36 & 37 to Tullow Oil Offshore Comoros","author":"","date":"November 30, 2018","format":false,"excerpt":"Discover Exploration Limited has announced that its wholly-owned subsidiary Discover Exploration Comoros B.V.\u00a0has signed a binding agreement to farm out a 35% working interest in its Production Sharing\u00a0Contract (PSC) covering blocks 35, 36 & 37 offshore the Union of the Comoros to Tullow Comoros Limited, a wholly-owned subsidiary of Tullow\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2018\/11\/Comoros-blocks.png?fit=385%2C566&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":1440,"url":"https:\/\/www.oilnewskenya.com\/index.php\/africa-oil-encounters-no-oil-in-ethiopias-gardim-1-exploration-well\/","url_meta":{"origin":4339,"position":3},"title":"Africa Oil, Tullow encounters no oil in Ethiopia\u2019s Gardim-1 exploration well","author":"Samuel Kamau Mbote","date":"July 14, 2014","format":false,"excerpt":"Africa Oil Corp. has announced that the Gardim-1 exploration well, drilled on the eastern flank of the Chew Bahir Basin in the South Omo licence, onshore Ethiopia, has reached a total depth of 2,468 metres in basement, without encountering commercial oil. The well intersected lacustrine and volcanic formations, similar to\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/07\/ethiopia-oil.png?fit=741%2C388&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/07\/ethiopia-oil.png?fit=741%2C388&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/07\/ethiopia-oil.png?fit=741%2C388&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/07\/ethiopia-oil.png?fit=741%2C388&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":2326,"url":"https:\/\/www.oilnewskenya.com\/index.php\/tullow-oil-to-drill-first-exploration-well-in-kenyas-block-12a\/","url_meta":{"origin":4339,"position":4},"title":"Tullow Oil to drill first exploration well in Kenya\u2019s Block 12A","author":"Samuel Kamau Mbote","date":"January 16, 2015","format":false,"excerpt":"[twitter-follow screen_name='oilnewskenya'] Tullow Kenya is to drill its first exploration oil well in Elgeyo Marakwet later this year, as the company continues to expand its oil and gas search into new areas within the country. The oil exploration company said the proposed exploration well named Lekep-A , will be the\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2015\/01\/block-12a.jpg?fit=355%2C315&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":7834,"url":"https:\/\/www.oilnewskenya.com\/index.php\/tullow-oil-completes-3d-survey-over-comoros\/","url_meta":{"origin":4339,"position":5},"title":"Tullow Oil Completes 3D Survey Over Comoros","author":"","date":"November 16, 2019","format":false,"excerpt":"Tullow has announced that it has completed a 3,000 sq km 3D seismic survey over its three blocks 35, 36 and 37 in the Comoros. Tullow Oil acquired its 35% interest in Comoros Blocks 35, 36 and 37 from Discover Exploration in November 2018 and is the operator having agreed\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2019\/11\/Comoros-blocks.png?fit=385%2C566&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/4339","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=4339"}],"version-history":[{"count":3,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/4339\/revisions"}],"predecessor-version":[{"id":4342,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/4339\/revisions\/4342"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/4243"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=4339"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=4339"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=4339"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}