Tullow Oil plc has secured a $400 million five-year debt facility and off-take contracts with Glencore Energy UK Ltd. BUSINESS PLAN The Africa-focused company will be able to draw down funds over a period of 18 months to manage its senior notes maturing in March 2025. Tullow has also signed oil marketing and offtake contracts with Glencore for […]
Tag: Ghana
Tullow Oil files for arbitration over $387 million Ghana tax dispute
Tullow Oil plc said has filed requests for arbitration with the International Chamber of Commerce in London for two disputed tax assessments totalling US$387 million from the Ghana Revenue Authority (GRA). BREACH OF RIGHTS “The assessments relate to the disallowance of loan interest deductions for the fiscal years 2010 – 2020 and proceeds received by Tullow Oil […]
Tullow completes deal on Jubilee and TEN fields in Ghana
Tullow Oil plc has completed the pre-emption transaction to take its interests to 38.9% in the Jubilee field and to 54.8% in the TEN fields in Ghana. PRODUCTION The pre-emption relates to the sale of Occidental Petroleum’s interests in the Jubilee and TEN fields in Ghana to Kosmos Energy. The $118 million payment sees an […]
Tullow Oil to increase stake in Jubilee and TEN fields in Ghana
Tullow Oil plc announced it would increase its equity interest in the Jubilee and TEN fields in Ghana. PRE-EMPTION The company has exercised its right of pre-emption related to the sale of Occidental Petroleum’s interests in the fields to Kosmos Energy. Tullow aims to increase its share in the Deepwater Tano (DWT) block by 7.7% to a total […]
GoldStone nears expanded Akrokeri-Homase gold lease
GoldStone Resources Ltd has been recommended an expansion of its mining lease for the Akrokeri-Homase (AKHM) gold project in South West Ghana. The project already included the Homase South Pit and now covers the proposed Homase North and Homase Central pits and the expanded Homase South Pit with the increased mineable resource by 86,900 oz […]