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Tullow Oil
Summary of Proposed Investment

This Summary of Proposed Investment is prepared and distributed to the public in advance of the IFC Board of Directors’ consideration of the proposed transaction. Its purpose is to enhance the transparency of IFC’s activities, and this document should not be construed as presuming the outcome of the Board decision. Board dates are estimates only.

Project number 27918
Company nameTULLOW OIL PLC
Sector1Oil and Gas Production (Includes Development)
Environmental categoryB
Date SPI disclosedJanuary 16, 2009
Projected board dateFebruary 19, 2009
Previous EventsInvested: June 12, 2009
Signed: May 29, 2009
Approved: February 19, 2009
View Environmental & Social Review Summary (ESRS), click here
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Project description
In 2007, Tullow Oil plc (“Tullow”) and its partners discovered the Jubilee oil field offshore of Ghana. The project involves the first phase of development of the Jubilee field. It involves the drilling of 17 wells (nine production wells, five water injection wells, and three gas injection wells), sub-sea production installations and leasing of a floating production, storage and offloading (“FPSO”) vessel for processing, storage and handling of crude. Initial estimated gross production capacity is 120,000 barrels of oil per day and will increase as the field is further developed and more reserves are proven.

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