Tullow Oil revises 2020 capex to $300mChristian Fernsby ▼ | April 6, 2020
Tullow Oil has revised its 2020 capital expenditure to about $300m following the identification of additional cost savings in response to the challenging external factors.
Tullow Oil Tullow Oil has revised its 2020 capital expenditure
Topics: Tullow Oil
Last month, the UK-based oil and gas company announced its 2020 capex at $350m, which marks a 30% cut compared to the previous year. The company had also announced a budget of about $100m on decommissioning activities, which has now been brought down to $65m.
The company, currently has interests in more than 70 exploration and production licences, that are spread across 15 countries in the African and South American continents. ■