Tullow Announces Government Approval of Northern Block G Development in Equatorial Guinea.

LONDON -- Tullow Oil Plc (Tullow), the independent oil and gas exploration, development and production company, announces that the Plan of Development for the Northern Block G area in the Rio Muni basin (Tullow 15%) has been approved by the government of Equatorial Guinea.

The integrated development plan for the Okume, Oveng, Ebano and Elon reservoirs calls for a combination of two tension leg platforms (TLPs) set in 900 feet and 1,750 feet of water, four fixed platforms set in 150-230 feet of water and the drilling of 29 producing wells. The plan also provides for 16 water injection wells and two gas injection wells to maintain reservoir pressure and enhance oil recovery.

Production from the fields will be gathered at a central processing facility (CPF) located at the shallow water Elon field. A 24 kilometer undersea pipeline will connect the CPF to the Sendje Ceiba Floating Production, Storage and Offloading (FPSO) vessel for storage and offloading of crude production. The Sendje Ceiba, which has a crude storage capacity of 2.1 million barrels, currently processes, stores and offloads crude production from the nearby Ceiba field.

The partners will invest approximately $1.1 billion over the life of the development and the project is expected to commence production by the first quarter of 2007. Gross production is expected to reach approximately 60,000 barrels of oil per day in 2007.

The operator of the development is Amerada Hess, which holds an 85% working interest. The government of Equatorial Guinea, through the national oil company, GEPetrol, has a carried 5% interest in the development.

Commenting on the approval of the Plan of development, Aidan Heavey, Chief Executive of Tullow said:

"Government approval of the optimized Northern Block G development in Equatorial Guinea represents another important milestone in realising our objective of achieving significant organic growth in West Africa. We are pleased to be participating in a project which will benefit the population of Equatorial Guinea and contribute to the infrastructural development of the Bata area."

Notes for Editors

"Tullow" where referred to in this release means Tullow Oil plc and/or its subsidiaries, as appropriate.

Tullow is one of the leading independent international oil and gas exploration and production companies in Europe. Tullow is quoted on the London and Irish stock exchanges (symbol TLW) and is a member of the FTSE 250 Index.

Production and Development Assets

Tullow has interests in over ninety exploration and production licences spread over three core areas: UK North Sea, West Africa and South Asia. Tullow recently completed the acquisition of Energy Africa, which takes the number of countries in which Tullow is active to sixteen.

In the North Sea, Tullow's principal interests are in the CMS and the Thames/ Hewett group of licences and the Bacton onshore gas-processing terminal, which it operates.

In Africa, Tullow has production in Gabon, Cote d'Ivoire, Congo (Brazzaville) and Equatorial Guinea. Tullow also has exploration programmes in Morocco, Mauritania, Senegal, Cameroon, Uganda and Egypt.

In South Asia, Tullow has production and exploration interests in Pakistan and is exploring in India, in addition to Bangladesh.

For further information see www.tullowoil.com