News Release Tullow Oil plc (Tullow) is pleased to announce that it has completed the farm-down of 66.6666% of its Ugandan licences to CNOOC Limited and Total for a consideration of $2.9 billion. The farm-down follows the recent signing of Production Sharing Agreements (“PSAs”) and the Kingfisher production licence with the Government of Uganda. Tullow,
Members of Parliament up in arms against government agreements with Tullow Oil
Members of Parliament are threatening legal action against the government and oil company Tullow oil for going against the Parliament resolution halting activities in the oil sector pending a new law and investigations into the sector. The government and Tullow Oil Company today signed two production sharing agreements and one production license to operate three
Tullow to sell stake to Total and CNOC after getting Production license and agreement from Uganda
The government of Uganda has finally award to Tullow Oil Company an oil production license for 400 million barrel kingfisher oil well found in western Uganda worth 1.5 billion US dollars. Tullow oil will now be able to resume oil activities in the region and especially sell two thirds of its its stake to Ferance’s Total and China’s CNOC. The long waited move