Oil firm hails ‘excellent year’

TULLOW OIL had an “excellent” year, with record levels of production, revenue, profits and cashflow, the company’s chairman told shareholders at yesterday’s annual general meeting.

Pat Plunkett said the firm had been transformed by the acquisition of Energy Africa and two new gas fields in the North Sea.

“Tullow is now strategically well positioned with a balanced portfolio of oil and gas assets in both mature and developing regions,” said Mr Plunkett.

The company will hold a special post-AGM briefing for its Irish shareholders in Dublin today.