Tullow returns looking for business
Tullow Oil, once the largest foreign acreage holder in India, has opened a new liaison office in Delhi.
“Tullow is a very different company to when it was in India before,†newly arrived country manager Richard Lee tells us. “Tullow today has a market cap of $9bn and production of 70,000 boed across the North Sea and Africa.
In Bangladesh we produce 70m cf/d and in Pakistan around 20m-30m cf/d. India is an obvious place to grow our business.
†Tullow’s office opened in September and will restrict itself to identifying new business opportunities. “All the technical evaluation will be done in Dublin,†adds Lee.
“Our South Asian business unit always watched India, even after we left (India).†From 2001, Tullow steadily relinquished its Indian acreage leaving only three blocks: CB-ON/1, where operator Reliance will drill the first exploration well in February next year; AA-ONJ/2 in Assam where operator Tullow is still (!) waiting for a PEL; and GK-OS/5 in Gujarat.