Tullow Oil plc said it was considering all options for the Espoir field, offshore Côte d’Ivoire. DEVELOPMENT The company holds a 26% working interest in the FPSO development, south west of Abidjan. In a brief statement today Tullow said: “No formal commitments have been made. “In the event this process develops, Tullow will update the […]
Tag: Tullow Oil plc
Shareholders refuse to support Tullow Oil’s share buyback
Tullow Oil plc has failed to win shareholders’ approval to buy back its own shares. DIRECTORS At today’s general meeting a total of 246,564,929 shareholders, equal to 27.29%, voted against resolution 19. Of an aggregate 903,642,231 shareholders, those who abstained numbered 670,045. All other 18 resolutions were passed although with some dissent over re-election of […]
Tullow Oil to own 100% of onshore Kenya blocks in South Lokichar Basin
Tullow Oil plc will have full ownership of blocks 10BB, 13T and 10BA in the South Lokichar Basin after partners TotalEnergies and Africa Oil withdrew for “differing internal strategic reasons”. RESOURCES Tullow expects net project 2C contingent resources to increase from 231 mmboe to 461 mmboe, and the group’s total contingent resources from 605 mmboe to […]
Tullow publishes 2022 sustainability-climate reports
Tullow Oil plc has published its sustainability report and climate risk and resilience report for 2022. ESGs During the year, the company achieved zero lost time injuries and zero Tier-1 process safety incidents. Tullow increased its socio-economic contributions through more than 6,000 secondary and tertiary students with Tullow STEM scholarships, bursaries and after school support […]
Tullow signs cashless asset swap for Gabon licences
Tullow Oil plc has signed a cashless asset swap agreement with Perenco Oil for certain licences in Gabon on the Atlantic coast of Central Africa. ASSETS Tullow Gabon will transfer its existing participating interests of the Limande, Turnix, Moba, Oba and Simba assets to Perenco. Tullow will retain 40% in Simba. Perenco will transfer certain […]
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 […]