Tullow Oil plc (Tullow) has announced that CEO Rahul Dhir will step down and resign from the Board in 2025 to pursue other business, academic, and family interests.

The company has initiated the search for his successor, with Dhir remaining in his role until a smooth transition is ensured.

Since joining Tullow in 2020, Dhir has led a significant turnaround, steering the company toward growth. Under his leadership, Tullow generated $1.1 billion in free cash flow and halved its net debt from $2.8 billion to approximately $1.4 billion.

Phuthuma Nhleko, Tullow’s Non-Executive Chairman, commended Dhir’s contributions:
“Rahul has successfully delivered a strategic reset for Tullow, focusing on operational excellence, financial discipline, and positioning the company for future growth. His leadership has left Tullow in a strong position to deliver on its long-term objectives.”

Locally, Tullow Kenya BV Managing Director Madhan Srinivasan reaffirmed the company’s commitment to its Kenyan operations. Tullow is working closely with the Kenyan government to secure approval for the Full Field Development Plan while continuing discussions with potential strategic partners.

Reflecting on his tenure, Dhir expressed pride in the company’s achievements:
“It has been a privilege to lead Tullow over the past four and a half years. We have significantly improved our operating performance, cost structure, and capital discipline, creating a strong platform for growth. I am confident Tullow is well-positioned as a trusted partner and responsible operator for the future.”

Tullow Oil remains focused on advancing its pan-African growth strategy and strengthening its position in key markets.