Tullow Oil says it has emerged from the industry downturn as a “balanced, self-funded E&P company” and plans to pay a dividend next year for the first time since 2014. The company is focused on reaching a final investment decision (FID) for the South Lokichar project in late 2019 with a target of first oil in 2022, but key elements remain to be finalised, including the ownership of the export pipeline element and a contract for the water needed for the production process.