TULLOW OIL PLC

Gabon LICENCE EXTensions

9 August 2023 - Tullow is pleased to announce that it has gained approval from the Government of Gabon for the extension of several of its Gabon licences to 2046.

The licence extensions increase the value of Tullow's resource base through the addition of c.5mmbbls net 2P reserves that will deliver c.100% 2P reserves replacement in Gabon this year.

This activity is in line with the Group's strategy to focus on its high return production assets in Africa and unlock value through optimisation of its non-operated portfolio. The extensions reflect the future potential of the reserves and resources across the Gabonese assets and the longevity of the Tchatamba facilities as a core hub for Tullow.

-ENDS-
 

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Notes to editors

Tullow is an independent oil & gas, exploration and production group which is quoted on the London and Ghanaian stock exchanges (symbol: TLW). The Group has interests in over 30 licences across eight countries. In March 2021, Tullow committed to becoming Net Zero on its Scope 1 and 2 emissions by 2030. For further information, please refer to our website at www.tullowoil.com.

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