Tullow Africa operations to increase cash flow

oil rig kris krug flickrTullow said it had US$1bn to invest, some of which would be injected in Kenya, where the firm has 10 other tertiary basins to explore. (Image source: Kris Krug/Flickr) Tullow Oil has said that its critical oil exploration developments in Kenya, Ghana and Uganda will deliver major cash flow increases in the next three to five years

Aidan Heavey, CEO of Tullow said that the exploration programmes have been prepared for 2014 in some of these markets.

The company is well-positioned for growth this year and has a suite of assets and business opportunities to support this, he added.

The British firm released results for the full year ending in 2013, saying it had generated nearly US$2bn of operating cash flow and had a robust balance sheet. The company described the period under review as another year of exploration and production growth.

Tullow said it had US$1bn to invest, some of which would be injected in Kenya, where the firm has 10 other tertiary basins to explore.

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