January 11, 2017 / 8:18 AM / 8 months ago

BRIEF-Tullow Oil FY rev expected to have fallen 19 pct

Jan 11 (Reuters) - Tullow Oil Plc

* West Africa 2016 production in line with guidance at average 65,000 bpd

* West Africa 2017 production expected to average between 78,000-85,000 bpd

* Expects 12-week shutdown at Jubilee oil field in 2017 for modifications

* Expects 2017 production from 10 oil fields of around 50,000 bpd, lower than previously estimated

* Started Kenya exploration & appraisal programme in mid-Dec, first results expected shortly

* Plans to drill offshore Suriname in second half of 2017

* Year-end facility headroom and free cash of $1 billion, net debt $4.8 billion

* Expects 2016 revenue of around $1.3 billion, gross profit of around $500 million

* Expects 2016 operating cashflow of around $700 million

* To incur 2016 accounting charges of around $700 million due to low oil prices, disposals

* Hedging contributed $363 million to revenue in 2016

* Around 60 percent of 2017 oil production hedged at average of $60.23/bl

* 2017 capex to fall to $500 million Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 806 749 1136)

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