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Tullow Selects Palantir To Optimise Its Asset Portfolio

LONDON, April 11, 2013 /PRNewswire/ --

Palantir Solutions, the leading provider of integrated dynamic planning solutions for the upstream oil and gas industry has been selected by Tullow Oil plc (Tullow) to deliver portfolio management.  The addition of Tullow to Palantir's growing list of clients is a further indication of the increasing demand for Palantir's economic and portfolio planning services and solutions.  Senior Vice President, Kirk Hanes said "Our work with Tullow is an excellent example of how our solutions are transforming upstream oil and gas companies' approach to portfolio planning"

The system at Tullow incorporates two of Palantir's core software products:  PalantirCASH for petroleum economics and PalantirPLAN for portfolio optimisation and visualisation.  With the implementation of these solutions, Tullow has a dynamic, consistent and accurate view of its complex and expanding portfolio upon which it is able to act. It is also able to effectively compare various investment strategies, and quickly and accurately evaluate potential acquisition targets allowing it to secure competitive advantage.

Tullow's Pete Dickerson, Head of Commercial Planning and Economics commented "Palantir enables us to gain a wider understanding of our portfolio and improves the way we conduct our business planning and strategy process.  With the aid of Palantir's software we are able to quickly analyse and conduct sensitivity analysis on the different aspects of our business from high level corporate decisions to making individual assets evaluations."

About Tullow :

Tullow Oil plc is one of the largest independent oil and gas exploration and production companies in Europe with a focused portfolio of world-class assets. Tullow is also Africa's leading independent oil company with basin opening discoveries in Ghana, Uganda and most recently Kenya. Success in West Africa led Tullow across the Atlantic in 2011 to a related geological play in South America and the discovery of the Zaedyus field in French Guiana which has unlocked significant exploration potential across the region.

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