Pioneering African Business Initiative Launched by Tullow Oil

ACCRA, Ghana, January 24, 2012 /PRNewswire/ --

This morning Africa's largest independent oil company, Tullow Oil plc ('Tullow'), kicked off a new business initiative aimed at attracting and facilitating further investment in the continent.  

Invest in Africa aims to encourage long-term investment across the continent to help build and develop local capacity, boost domestic job markets, develop skills and stimulate economic growth.

The programme's call to action will be supported through a unique partnership with English Premier League football club, Sunderland AFC.

As the initial Founding Partner establishing Invest in Africa, Tullow plans to secure five further Founding Partners from the international businesses community focused on Africa.  These Partners will help to evolve and shape the programme in years to come.  

Speaking at the launch, Tullow Chief Executive Aidan Heavey said: "Tullow is investing in Africa for the long term and we want more businesses to do the same. Africa has been good to us, and we have been successful, but we want that success to bring growth for local people and economies too.  Africa's a great place to invest and this partnership with Sunderland AFC will allow us to get the message to a global audience. There are some great opportunities out there and we want other companies who share our vision to join us."

Niall Quinn, Director of International Development, Sunderland AFC, said: "We are genuinely excited about this ground-breaking opportunity to bring Sunderland into new territories and the global appeal of the Premier League is something that we can harness as a powerful tool for change through our innovative partnership with Invest in Africa.

"Africa's passion for football is both heart-warming and inspirational and as a football club with community, people and international aspirations firmly at its core, there is a natural synergy between us and this wonderful continent. We look forward to growing and developing the partnership in the coming months."

Ike Duker, Executive Chairman of Tullow Ghana Ltd, added: "While we are delighted to be at the forefront of this innovative and exciting new business programme, this is not just about Tullow. This is an initiative that can help to build stable, investment friendly environments to allow businesses to grow across Africa, create jobs and enable Africa's people to share in the wealth and prosperity that come with it."

Further details about the initiative including the additional partners which join the campaign will be announced at the end of the Premier League season.  

Video News Release

The VNR will be available to download from the following locations on Tuesday 24th January from 1700 GMT.

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After correctly entering the username and password and the URL has opened, click on the BROADCAST VIDEO tab.  Click on the VIDEO NEWS RELEASE text to filter to the VNR view.  Select the 'Invest in Africa' VNR, the story will open and play as preview, you can then download it by clicking on the small print to the bottom left "File".  The script and shot list will be listed on the page as well which can be copied.  The VNR will be broadcast quality as MPEG2.

NOTES TO EDITORS

About Tullow Oil Plc

Tullow is a leading independent oil & gas, exploration and production group, quoted on the London, Irish and Ghana Stock Exchanges (symbol: TLW) and is a constituent of the FTSE 100 Index. The Group has interests in over 90 exploration and production licences across 22 countries and focuses on four core areas: Africa, Europe, South Asia and South America.

In Africa, Tullow has production in Ghana, Gabon, Côte d'Ivoire, Mauritania, Congo (Brazzaville) and Equatorial Guinea with two large appraisal and development programmes in Ghana and Uganda. Tullow also has exploration interests in Gabon, Côte d'Ivoire, Liberia, Sierra Leone, Mauritania, Senegal, Tanzania, Madagascar, Namibia, Kenya and Ethiopia.

Tullow's European interests are focused on gas in the UK Southern North Sea where it has significant interests in the Caister-Murdoch System and the Thames area and in the Netherlands where it has offshore gas production, development and exploration opportunities. In South Asia, Tullow has exploration and production in Bangladesh and exploration interests in Pakistan. In South America, Tullow has exploration interests in Guyana, French Guiana and Suriname.

About Sunderland AFC

Sunderland Association Football Club is a professional football (soccer) club based in the North East of England and is the sixth most successful club in the country.

The club plays in the Barclays Premier League, regarded as the most watched and admired football competition in the world, with its squad of international players competing against clubs such as Manchester United, Liverpool, Arsenal and Chelsea each week. Nicknamed the Black Cats, the club plays its home games at the 49,000 capacity Stadium of Light - the fifth largest football stadium in England.

SOURCE Invest in Africa