Exploration company Tullow says that its business continued to perform strongly over the second half of 2008, and added that the outlook for the rest of the year and beyond is 'very positive'.
In an interim management statement today, it says that while recent oil prices have been comparatively low, Tullow has benefited from strong prices during most of the year and gas prices remain strong.
During the first six months of the year it recorded four further discoveries in Uganda, drilled a successful appraisal well on the Banda discovery and spudded the first well in a substantial new drilling campaign offshore Ghana.
Tullow says that its total production for 2008 is now expected to average approximately 67,000 boepd with a strong production performance from Africa and Asia offsetting lower production in the UK.
