Tullow to return record 2011 data

TULLOW Oil has said that its 2011 performance — set to show a doubling of revenues — effectively makes it one of the exploration industry’s “super-independent” players, enabling it to seek out more high-profile development partnerships.

And Royal Dutch Shell Plc is enlisting the help of expert independent explorer Tullow Oil Plc to find major new oil fields in the Atlantic in a nod to the poor record of big companies in striking gushers.

In its latest trading update — ahead of the publication of annual results on March 14 — Tullow yesterday reiterated the central message of its November update, in that its 2011 figures will be record results. It put a bit more meat on the bones by adding that total revenue will amount to around $2.3bn (€1.8bn); more than double the $1bn revenue it reported for 2010.