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Tullow eyeing higher oil production target in Uganda

03/08/2010
By Eric Watkins
Uganda's oil production target could more than double to 350,000 b/d by 2018 from the current target of 150,000 b/d in 2013 if the right business plan is adopted, according to Tullow Oil PLC."When the oil basin is in full production, we are probably talking about 350,000 b/d," said Tullow Chief Executive Officer Aidan Heavey, adding that the firm plans to begin producing crude oil this year, with initial production of 1,000 b/d.Heavey said output will rise to 10,000 b/d in 2011 and to 150,000 in 2013. The 150,000 bbl-target for 2013 is based on current proven reserves of 700 million boe. But there is upside in the basin as proved, probable, and possible reserves are estimated to...
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