Jan 15, 2015
Tullow Oil cuts exploration capital expenditure by 80% in 2015 following oil price drop
Tullow Oil cuts exploration capital expenditure by 80% in 2015 following oil price drop
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Tullow Oil has said it will be shrinking its 2015 exploration expenditure capital to just $200 million from $1 billion in 2014 as it takes steps to strengthen the business to adapt to current market conditions.
The company that has exploration and production licenses in West and East Africa adds it will further carry out a review of the business to streamline processes and…
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