Tullow Oil said today that it is well position with a balanced portfolio of oil and gas assets for future growth and development.
At the company’s AGM today the chairman of Tullow Oil, Pat Plunkett, said that production continues to grow in the UK and Africa market.
The UK gas market is a key area of focus for Tullow and, following the start up of the Horne and Wren fields where output has already reached its anticipated plateau rate of 90mmscfd, Tullow's gas production is at an all time high," Mr Plunkett said.
"In Africa we have a very active programme with over 40 infill and development wells planned for 2005," he added.
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Meanwhile, the group also said it seeking a refinancing package up to $850 million in loans to fund further projects.