As 2025 is fast approaching, it is time to look back at the progress made in 2024. Below are some of the highlights of our sustainability activities underpinning our purpose to build a better future through responsible oil & gas development: 🤝 Advancing our Shared Prosperity strategy We’ve accelerated progress through partnerships in 2024: · Over 500 Ghanaian companies and officials participated in the Tullow Supply Chain Academy and Supplier Mentorship Programme. · Tullow completed a 6-unit fully furnished girls’ dormitory and Housemistress bungalow for a school in Ghana alongside education support for more than 10,000 students. · Launched the Tullow AgriVentures Programme with 10 innovative agribusinesses. · Opened 26 community sheds that Tullow commissioned and built for the fisherfolk in the Western region of Ghana. · Raised awareness of human rights issues, providing training for more than 70 employees and over 140 suppliers. 🌳 Partnering on nature-based solutions projects In May, we formalised a strategic partnership with the Ghana Forestry Commission to implement a high-quality nature-based solutions project, in line with Tullow’s 2030 Net Zero roadmap. The programme will focus on approximately 2mn hectares of land across Ghana. We are also proud that our latest marine environmental survey demonstrated that our operations have no significant negative impacts on marine life. 🛡️ Reinforcing a culture of safety We intensified our efforts to reinforce a safety culture through awareness and training at all levels, continuing our 13 safety improvement initiatives. These include our safety culture surveys, well operations, crew resource management and safety leadership training. We completed our Ghana drilling campaign on the Noble Venturer drill ship and our Mauritania decommissioning programme this year with no recordable incidents. As we move into the new year, we will further build on these milestones and continue to enhance our approach to sustainability. We remain committed to ensuring we make a meaningful contribution to the sustainable development of our host countries. Read more on our website: https://lnkd.in/dF6dqfy #TullowOil #SharedProsperity #Sustainability
Tullow Oil
Oil and Gas
Tullow is an independent oil and gas company focused on Africa and South America.
About us
Tullow is an independent oil & gas, exploration and production group, quoted on the London and Ghanaian stock exchanges (symbol: TLW). The Group has interests in over 30 exploration and production licences across eight countries. In March 2021, Tullow committed to becoming Net Zero on its Scope 1 and 2 emissions by 2030. For further information, please refer to our website at www.tullowoil.com.
- Website
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http://www.tullowoil.com
External link for Tullow Oil
- Industry
- Oil and Gas
- Company size
- 501-1,000 employees
- Headquarters
- Chiswick
- Type
- Public Company
- Founded
- 1985
Locations
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Primary
Get directions
Building 9
566 Chiswick High Road, Chiswick Park
Chiswick, W4 5XT, GB
Employees at Tullow Oil
Updates
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Tullow Oil announces that Rahul Dhir will step down as Chief Executive Officer and resign from the Board during 2025 to pursue other business, academic and family interests. The Board has initiated a process to find his successor. Rahul will stay in his role until a date to be determined to ensure a smooth transition. Phuthuma Nhleko, Non-Executive Chairman, commented today: “I would like to thank Rahul for his hard work and dedication to Tullow. Since joining in 2020, Rahul has led a comprehensive turn-around and strategic reset of Tullow, focussed on the delivery of operational and financial performance, debt reduction and positioning the company for future growth.”
This morning we announced that I will step down as CEO of Tullow Oil next year: https://lnkd.in/esQA7FJj It’s been a privilege to serve Tullow Oil during these past four and a half years. During this period, we decisively shifted Tullow’s strategy to focus on our producing assets, embedded a culture of capital discipline, invested in building our operating capability and realised material cost savings and efficiency improvements across the Group. The step change in our operating performance, cost structure and capital discipline has delivered over $1.1 billion in free cash flow and reduced our net debt from $2.8 billion to c.$1.4 billion. I am also very proud of our team’s strong culture of ownership and commitment to business delivery. With a strong pan-African platform, Tullow Oil is well-positioned as a trusted partner and responsible operator to deliver the next phase of growth.
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Today we issued our November Trading Update. Rahul Dhir, Chief Executive Officer, says “Our cash generative business enables us to continue our deleveraging progress. This has been achieved despite under performance at the Jubilee field, which has been offset in part by strong performance at TEN, lower capital intensity and a continued focus on cost management. “We are well positioned to optimise our capital structure and look forward to progressing plans to address our remaining debt maturities.” Read the full release on our website: https://lnkd.in/ed8drP6Y #Tullow #TradingStatement #TLW
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Congratulations to the latest graduates of the Tullow Supply Chain Academy programme! This impactful initiative highlights Tullow's unwavering commitment to local content development and equipping businesses with critical skills in finance, supply chain, and digital tools. A big thank you to all stakeholders and participants for making this a success. #LocalContent #Mentorship #BusinessSkills #Tullow
Last week we graduated another batch of suppliers from the Tullow Supply Chain Academy programme this year. 90 individuals from 75 indigenous companies and 15 officials from the Petroleum Commission went through rigorous skills training in finance, supply chain and digital skills on Accenture’s iCloud-based chain learning platform. This academy is one of several initiatives we run to demonstrate our commitment to local content participation and development. We appreciate all our stakeholders for making this a resounding success and congratulate all our graduates! #LocalContent #Mentorship #BusinessSkills #BuildingaBetterFuture #TullowGhana
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The energy sector is vital for providing essential services, decarbonising the global economy through its investments in the energy systems of the future, engagement with customers, and measurement, reporting and independent verification of emissions data. The COP29 Azerbaijan Energy Day acts as a timely prompt to reaffirm our commitments. We will continue to: ⚡️ Help deliver energy security We will continue to play a crucial role in ensuring a balance between energy needs of our host nations, local content promotion, and environmental stewardship. 🎯 Focus on emissions reductions Our focus on the elimination of flaring on our operated assets will reduce the effects of one of the most potent greenhouse gases – methane. We also work with our partners at our non-operated assets to pursue emissions reduction opportunities. 🌿 Embrace nature-based solutions We are passionate about developing high quality nature-based solutions projects, similar to our partnership with the Ghana Forestry Commission this year, to meet our net zero ambitions, shape the future of carbon markets, and enhance our role in promoting biodiversity. We recognise that collaboration is key to driving meaningful progress in responsible resource stewardship. The breakthrough agreement on achieving a global carbon market reached at COP29 last week is a testament to what can be achieved through working together. #Tullow #COP29 #Sustainability #NetZero
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Tullow is pleased to announce that it has secured approvals from its lenders to extend the maturity of its Revolving Credit Facility (RCF) to 30 June 2025. Tullow has sized the facility to $250 million to align with lower headroom needs and to continue to reduce financing costs, with all other terms unchanged. “Extending the RCF is a key step in our refinancing plans” said our Chief Financial Officer Richard Miller. View news release: https://lnkd.in/ecPpQ3cw #Tullow
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🏆 Congratulations to our Finance team! Our colleagues were awarded "Finance Team of the Year Award: Highly Commended" at the Robert Walters London & South-East Finance Awards 2024, in the Energy & Natural Resources category. The awards recognise the outstanding achievements and dedication of finance professionals and businesses which have demonstrated excellence during the past 12 months. This accolade emphasises the dedication and positive spirit of our team which continues to demonstrate our values of "Aim High", "Own It" and "Be True". #Tullow
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Our CEO Rahul Dhir took part in a panel discussion at AEC African Energy Week on ‘Unlocking Hidden Value: Maximising Africa’s Mature Fields' The session highlighted the untapped production potential within the region and the importance of forming long-lasting partnerships to support decarbonisation in Africa. Read Rahul's thoughts on this important topic below. #Tullow #AfricanEnergyWeek #AEW2024
There is a changing landscape across Africa with major energy companies exiting their mature projects. This creates a serious challenge. Governments are now looking for a responsible partner with a track record of operating mature assets, to realise the remaining value of their resources, create social change and eventually decommission these assets in line with local and international regulations. Armel Simondin, Paul McDade, Jean-Michel Jacoulot, and I discussed this changing landscape yesterday in our thought provoking panel discussion: Unlocking Hidden Value: Maximising Africa’s Mature Fields, moderated by Oneyka Cindy Ojogbo. We covered a range of topics, including innovative technologies, strategies for mitigating the decline of mature fields, and infrastructure-led exploration (ILX). We also discussed the role of African governments, working with local partners with complementary skillsets who understand the dynamic and potential issues in-country, and access to finance for these projects. The outlook for Africa’s mature fields is bright, and Tullow Oil is well positioned to bring expertise to Africa’s mature fields. We are a pan-African partner for the long-term, with a clear plan and holistic commitment to working with host nations to unlock value, create transformational change and enable a more sustainable future. #Tullow #AfricanEnergyWeek #AEW2024
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"Local content is a very important enabler for unlocking value from African resources for the benefit of our host communities." 🎥 Our CEO Rahul Dhir discusses our ambitions in Africa and local content with CNBC Africa. https://lnkd.in/exyikXGm #AEW2024
Dhir: Tullow Oil focused on developing African resources - CNBC Africa
cnbcafrica.com
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Tullow CEO Rahul Dhir took part in a panel discussion at AEC African Energy Week on 'how do we build value and promote investment through local content in Africa’s energy sector?' Read Rahul's thoughts on the discussion below. #Tullow #AfricanEnergyWeek #AEW2024
How do we build value and promote investment through local content in Africa’s energy sector? This was the question Abayomi Bamidele, Nillian Mulemi, Mohamed DIOP, Abiola Lukman Lawal (A.L.L), Jozsef Marton, Ileana I. Ferber, MBA, and I discussed during our panel discussion at AEC African Energy Week. During the session we examined the policies, incentives, and frameworks required to empower African companies to enhance their competitiveness. The Tullow Oil Jubilee South East (JSE) project serves as one example, where the majority of the complex offshore infrastructure was fabricated by local companies in Ghana. We are also driving wider local content through increased engagement, support and training of our local supplier base. Tullow is committed to delivering energy security for our host nations and optimising local content is key to meeting this goal. Yesterday’s panel affirmed that with continued industry-wide commitment, collaboration, and greater transparency and accountability to drive investment, we can address the skills gap, develop the next generation of African leaders. Thank you to my fellow panelists for their insightful contributions, and a thanks to the organisers of African Energy Week for facilitating such a vital conversation. #Tullow #AfricanEnergyWeek #AEW2024
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