Tullow Production Unaffected by Civil Unrest in Gabon

8 September 2009 (Last Updated September 8th, 2009 18:30)

Irish independent Tullow Oil said that production levels and share prices remain strong despite civil unrest in the Africa nation Gabon. Over the past week, local reports have claimed that oil installations in Gabon were being targeted during civil unrest in the wake of disputed preside

Irish independent Tullow Oil said that production levels and share prices remain strong despite civil unrest in the Africa nation Gabon.

Over the past week, local reports have claimed that oil installations in Gabon were being targeted during civil unrest in the wake of disputed presidential results.

Shares of the firm in London were unaffected and traded up to £10.90, an increase of £0.34, amid heavy trade as analysts claimed that the company would not be affected by the turmoil.

Tullow said that staff in Libreville were safe and that production has not been affected.

The company has interests in 16 licences in Gabon and generates 12,000bpd from the country, equal to about a fifth of its total output.