Tullow ready to return to exploration

摘要

Tullow Oil will finally loosen its purse strings and return to exploration after years of trying to reduce its debt. The company will only drill one well this year - the Cormorant prospect in Namibia due to spud within weeks - but next year has plans for up to five wells. "To find things you need to go and drill wells. We've obviously curtailed that over the last couple of years. But our intention is to get back to drilling high-impact wells," said chief executive Paul McDade.