图洛石油公司（Tullow Oil plc，简称“图洛”）发布以下业务及业绩指引更新。本文所载信息未经审计，并可能进行进一步审核和修订。

图洛首席执行官伊恩·珀克斯（Ian Perks）今日评论道：

“自9月担任首席执行官以来，我为我们团队的卓越素质和资产质量留下了深刻印象。我们近期的首要任务仍然是确保图洛的长期可持续财务状况。”为实现这一目标，我们专注于提升在加纳的运营效率、优化成本以及对集团资本结构进行再融资。

近几个月来，我们已成功完成出售在肯尼亚的全部权益，售价至少为1.2亿美元；同时，我们也成功出售了在加蓬的资产，税后净收益约为3亿美元。

公司运营势头强劲，已获得新的4D地震数据，启动了海底网络（OBN）勘测，并在加纳签署了谅解备忘录，将Jubilee和TEN两个油田的生产许可证延长至2040年。我们对近期在加纳的钻井活动取得的初步成功感到鼓舞，并已开钻了该项目中的第二口井。我们仍然面临着现有油井产量自然下降带来的挑战，并正致力于探索所有可能的方案来缓解这一问题。展望2026年，我们将致力于通过控制产量下降和利用新井的额外产量来优化生产。 2025年

运营更新：

截至10月底，集团平均日产量约为40.7千桶油当量，其中包括7.1千桶油当量/日的天然气，这已计入年初生效的加蓬资产出售。截至10月底，

加纳
朱比利油田2025年的平均日产量约为61千桶油当量（净产量约为23.9千桶油当量/日）。
朱比利油田2025年的产量仍然受到上半年问题的影响，但得益于2025年投产的两口朱比利油田生产井中的第一口（J72-P）的良好表现，该井已于7月投产。
Jubilee油田的钻探工作于11月初重启，第二口新生产井（J73-P）预计将于年底前后投产。
该项目已批准一项2026年五井钻探计划，其中包括四口已确定的井（三口生产井和一口注水井）以及一口正在推进中的选择权井（一口生产井）。
第一季度采集的4D地震数据的解释工作持续提供有价值的油藏可视化信息，并为当前钻井作业的井筒设计优化提供支持。海底节点（OBN）地震勘测正在进行中，预计将于年底前后完成。对OBN和拖缆4D地震数据集的综合处理预计将在2026年提供更精确的地震速度模型，从而增强地下成像和流体预测能力。
截至10月底，TEN油田2025年平均日产量约为16千桶油当量（净产量约为8900千桶油当量），高于预期，这主要得益于Ntomme和Enyenra油田的持续强劲表现。Jubilee和TEN油田的FPSO（浮式生产储卸油装置）整体运行时间保持较高水平，截至10月底平均达到97%。
在与加纳政府签署谅解备忘录（MoU）后，Jubilee和TEN油田许可证延期至2040年底的各项协议，以及天然气付款保障和Jubilee油田更新版开发计划的最终敲定工作进展顺利。
此外，新的Jubilee天然气销售协议也已生效，确认了当前天然气价格直至许可证到期。截至10月底，

Cyte d'Voire

Espoir油田的平均净产量约为1200千桶油当量，略低于预期，主要原因是第三季度天然气出口中断。图洛石油公司继续与运营商合作，优化未来的发展战略。

战略和财务更新：
图洛石油公司今年在多项战略和财务重点领域取得了显著进展，包括肯尼亚和加蓬的销售流程：
9月25日，图洛石油公司成功出售了其在肯尼亚的全部作业权益，并获得了4000万美元的收益。预计在年底前油田开发计划（FDP）获得批准后，还将获得4000万美元的收益；之后，从2028年第三季度起，将在五年内分期支付第三笔4000万美元的收益。
7月29日，Tullow完成了对Tullow Oil Gabon SA的出售，总现金对价为3.07亿美元（扣除税项及惯例调整后）。
成本基础优化措施已取得显著进展，预计可节省约1000万美元，使2025年年度净一般及行政费用降至约4000万美元，并计划在未来三年内与2024年相比节省约5000万美元。Tullow
正与债券持有人、大宗商品交易商及其他私人融资来源就其资本结构再融资事宜进行磋商。然而，鉴于业务表现、整体市场状况以及即将于2026年5月到期的债券所带来的风险，Tullow正与部分债权人探讨其他方案，包括修改和延期行使债权以及其他形式的负债管理交易。 2025年集团产量

预期
将与此前预期一致，处于4万至4.5万桶油当量/日的区间下限。
2025年的资本支出和退役支出预期分别维持在约1.85亿美元和约2000万美元。
2025年的自由现金流预期维持在约3亿美元，油价为每桶65美元（10月底套期保值后的实际油价约为每桶68美元）。这其中包括收回加纳政府尚未支付的约1亿美元天然气应收款。截至10月底，加纳政府的应收款总额（包括TEN发展债务和逾期现金催缴款）超过2亿美元（Tullow净额）。Tullow正与加纳政府及其各机构密切合作，以解决这一问题。
2025年底的净债务预期约为12亿美元。
2026年的产量将取决于多种因素，包括新井的产量有助于抵消现有井的自然产量下降。

Tullow Oil plc (Tullow) issues the following business and guidance update. The information contained herein has not been audited and may be subject to further review and amendment.

Ian Perks, Chief Executive Officer, Tullow, commented today:

“Since joining as CEO in September I have been impressed by the calibre of our team and the quality of our assets. Our near-term priority remains to put Tullow on a long-term sustainable financial footing. To achieve this, we are focused on maximising operational efficiency in Ghana, cost optimisation, and refinancing the Group’s capital structure.

“In recent months we have successfully completed the sale of our entire working interest in Kenya for at least $120 million and the sale of our assets in Gabon for c.$300 million net of taxes.

“There is strong operational momentum across the Company with the acquisition of new 4D seismic data, commencement of an OBN survey and signing of the MoU in Ghana to extend our production licences for both Jubilee and TEN to 2040. We are encouraged by the early successes in the recent Ghana drilling campaign and have spudded the second well in the programme. We continue to face challenges related to the natural decline in our existing well stock and are focused on exploring all options to help mitigate this. Looking ahead into 2026 we will look to optimise production through management of the decline and the additional production from new wells.”

Operational update

2025 Group production to end-October averaged c.40.7 kboepd, including 7.1 kboepd of gas, taking into account the sale of the Gabonese assets effective from the start of the year.

Ghana
Jubilee oil production in 2025 has averaged c.61 kbopd (c.23.9 kbopd net) to end-October.
Jubilee production in 2025 continues to reflect the issues experienced in the first half of the year, but is supported by good performance from the first of the two 2025 Jubilee production wells (J72-P), which was brought onstream in July.
Drilling on Jubilee recommenced at the start of November, with the second new production well (J73-P) to come onstream around the end of the year.
The partnership has approved a five well 2026 drill programme, which includes four committed wells (three producers and one water injector) and the addition of one option well (a producer), currently being progressed.
Interpretation of the 4D seismic data acquired in the first quarter continues to deliver informative reservoir visualisation insights and is supporting well design optimisation for the current campaign. The Ocean Bottom Node (OBN) seismic survey is underway and is expected to complete around the end of the year. Integrated processing of both OBN and towed streamer 4D datasets is expected to deliver an improved seismic velocity model in 2026, supporting enhanced subsurface imaging and fluid predictions.
TEN oil production in 2025 has averaged c.16 kbopd (c.8.9 kbopd net) to end-October, above expectations through continued strong Ntomme and Enyenra performance. Overall FPSO uptime at Jubilee and TEN has remained high, averaging 97% to end-October.
Following the signing of the Memorandum of Understanding (MoU) with the Government of Ghana, good progress has been made to finalise the agreements required to implement the licence extensions for Jubilee and TEN to the end of 2040, together with payment security for gas and an updated Plan of Development for Jubilee.
In addition, a new Jubilee Gas Sales Agreement is now in place confirming the current gas price to the end of the licences.

Côte d’Ivoire

Espoir production averaged c.1.2 kboepd net to end-October, slightly below expectations primarily due to gas export outages during the third quarter. Tullow continues to work with the operator to optimise the strategy going forward.

Strategic and financial update
Tullow has made substantial progress this year on a number of strategic and financial priorities, including the sales processes in Kenya and Gabon:
On 25 September, Tullow successfully completed the sale of its entire working interest in Kenya and received $40 million proceeds. A further $40 million in proceeds are expected on ratification of the Field Development Plan (FDP) approval before the end of the year, which will be followed by a third $40 million in proceeds payable over five years from the third quarter of 2028 onwards.
On 29 July, Tullow completed the sale of Tullow Oil Gabon SA for a total cash consideration of $307 million net of tax and customary adjustments.
Cost base optimisation savings of c.$10 million are well progressed, to reduce 2025 annual net G&A to c.$40 million, with targeted savings of c.$50 million over the next three years compared to 2024.
Tullow is engaging with bondholders, commodity traders and other private sources of funding with respect to the refinancing of its capital structure. However given the risks associated with business performance, wider market conditions and the upcoming May 2026 bond maturity, Tullow is progressing alternative options with certain of its creditors, including an amend and extend exercise and other forms of liability management transactions.

Guidance
2025 Group production guidance is expected to be at the lower end of the 40-45 kboepd range, as previously guided.
Capital expenditure and decommissioning expenditure guidance for 2025 remains c.$185 million and c.$20 million, respectively.
Free cash flow guidance for 2025 remains c.$300 million at $65/bbl (realised oil price after hedging to end-Oct c.$68/bbl). This includes recovery of outstanding gas receivables due from the Government of Ghana of c.$100 million which are yet to be received. Total receivables due from the Government of Ghana (including TEN development debt and overdue cash calls) stood at over $200 million (net to Tullow) as at the end of October. Tullow is working closely with the government and its various agencies to resolve this situation.
Year-end 2025 net debt guidance is c.$1.2 billion.
Production in 2026 will be dependent on a number of factors, including production from new wells helping to offset the natural decline from existing well stock.