Tullow tries to boost oil reserves with Hardman buy

Tullow Oil chief executive Aidan Heavey’s love affair with Africa deepened last week with the announcement that the Irish company is seeking to buy Australian rival Hardman Resources for stg£581 million (€865 million).

30th September, 2006

Tullow Oil chief executive Aidan Heavey’s love affair with Africa deepened last week with the announcement that the Irish company is seeking to buy Australian rival Hardman Resources for stg£581 million (€865 million).

Hardman, which has assets in countries such as Mauritania and Uganda, would increase Tullow’s oil reserves by 30 per cent to 450 million barrels and increase oil production by 8 per cent to 87,000 barrels a day.

The deal will add...

Subscribe from just €1 for the first month!

Currency

What's Included

With any subscription you will have access to

  • 971569B3-2C5E-4C45-B798-CEADE16987A8

    Unlimited multi-device access to our iPad, iPhone and Android Apps

  • 099C8662-C57C-42F2-9426-F2F90DF17C8F

    Unlimited access to our eReader library

  • 198AE43B-B9CF-4892-8769-D63C2104BA08

    Exclusive daily insight and opinion seven days a week

  • D8F37B78-25E4-4E4A-A376-4F5789B1564A

    Create alerts to never miss a subject that matters to you

  • B15F2521-37CD-4E02-B898-730A20D39F7F

    Get access to exclusive offers for subscribers on gifts and experiences

  • A564FE02-1AB8-4579-AF9D-BA32A2E5ACA7

    Get content from Business Post, Business Post Magazines, Connected, Tatler and Food & Wine

Share this post

Related Stories

The year in review

Legacy Richie Oakley 1 year ago

Newsround: What Thursday’s papers say

Legacy Leanna Byrne 6 years ago

More cycle routes, expansion of Luas to Bray and new bus network proposed

Legacy Digital Desk 6 years ago