(Reuters) - London-based oil explorer Tullow Oil Plc said it was cutting back drilling plans in the UK North Sea so it can boost exploration activities in Ghana and Uganda, where earlier finds are proving bigger than expected.
The shift will see Tullow miss its 2007 production guidance by 7-8 percent but Chief Financial Officer Tom Hickey said that with a recent oil discovery in Ghana turning into the company's biggest ever, capital was better spent accelerating drilling there.
Read more at Reuters Africa
The shift will see Tullow miss its 2007 production guidance by 7-8 percent but Chief Financial Officer Tom Hickey said that with a recent oil discovery in Ghana turning into the company's biggest ever, capital was better spent accelerating drilling there.
Read more at Reuters Africa
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