16th Jan 2019 08:44
LONDON (Alliance News) - Tullow Oil PLC on Wednesday said it is "well-placed" to meet its goals after annual revenue slightly increased.
Chief Executive Officer Paul McDade said: "Tullow is well-placed to deliver on its growth ambitions. In 2019, we will increase oil production in West Africa, target final investment decisions in East Africa and drill the first wells in an exciting exploration campaign in Guyana."
For 2018, the oil & gas company expects to post revenue of USD1.8 billion, up from USD1.7 billion the year before.
During the year, Tullow achieved oil production of 88,200 barrels of oil per day with its 2019 daily production forecast between 93,000 barrels and 101,000 barrels.
Tullow Oil shares were trading down 1.3% at 197.90 pence each on Wednesday.
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