Business Irish

Sunday 18 March 2018

Tullow to hire 30 new staff as it ramps up geology work

Peter Flanagan

Peter Flanagan

Firm seeking highly skilled workers at its expanding Irish headquarters

TULLOW Oil is to hire 30 people at its offices in Dublin as the company ramps up its geology operation here.

The exploration company is looking for "highly skilled" staff in geophysics and information systems to work at its office in Leopardstown.

Tullow runs its entire geology operation out of Dublin. Staff there were first to point out the possibility of oil at a site off French Guiana in the South Atlantic, which has since been shown to hold large quantities of the commodity.

The company has two floors at Central Park in Leopardstown in Dublin and is in talks to secure a third floor in the same building.

Meanwhile, Tullow chief executive Aidan Heavey said the group could resolve problems it is experiencing at a huge oil field in Africa earlier than expected.

The company's drilling operation at its Jubilee Field off the west coast of Africa has been beset by problems recently, with sand getting into the equipment and preventing the clean extraction of oil from the wells.

Speaking at a shareholders' meeting in Dublin yesterday, Mr Heavey said his staff had been looking at a variety of ways to sort out the problem and was progressing to a solution.

"This is a fairly common issue in the industry and there are a variety of ways to fix it. At the moment it's a case of settling on the right solution and while we have said we hoped to have it resolved by the end of September, it could be a bit before that," he said.


Tullow said earlier this year it had discovered oil in large quantities in Kenya and yesterday Mr Heavey said Kenya had the potential to dwarf its lucrative Lake Albert play in neighbouring Uganda.

"We have about 10 times as much territory in Kenya so there is enormous potential there."

Another Irish-led firm operating in Africa, Cove Energy, is in talks to be sold for almost €2bn (€1.6bn), and yesterday a number of shareholders raised the prospect of one of the supermajors trying to buy Tullow.

Chairman Simon Thompson said there was "no doubt" some of the major firms were investigating a possible take out of Tullow but added the company had its defences against a possible hostile bid.

Speaking to reporters after the event Mr Heavey played down that prospect.

"We are in a totally different place to Cove, and there aren't too many companies that would have $20bn in cash to spend. We are not looking to sell," he said.

Tullow closed down 3.4pc at 1,428 pence in London.

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