EnQuest plc founding chief financial officer (CFO) and executive director Jonathan Swinney will leave the company to take up the same posts at Tullow Oil plc. Richard Miller, currently Tullow group financial controller, will act as interim CFO until Mr Sweeney joins the company later this year. Mr Swinney has extensive oil and gas and […]
Tag: Tullow Oil plc
Tullow Oil CFO Les Wood steps down
Tullow Oil & Gas plc announced that its chief financial officer (CFO) Les Wood has left, as previously arranged, after a total eight years with the company. Mr Wood, who has been CFO for the past five years, joined Tullow during 2014 as the group’s vice president for commercial and finance. He will be replaced […]
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 records transformational 2021
Tullow Oil plc said it would follow a transformational 2021 by delivering its long-term business plan for the company’s African oil and gas assets. FINANCES In its full year results for the year ended 31 December 2021, the company recorded revenue of $1,273 million (2020: $1,3960) with gross profit of $634m (2020: $403). Loss after […]
Tullow receives $75m after Uganda final investment decision
Tullow Oil plc said it had received a contingent payment of $75 million after the final investment decision for the Tilenga project in Uganda and the East African crude oil pipeline (EACOP). EXPOSURE The Africa-focused company added that the figure was in relation to the $575m sale of its assets in Uganda to Total during […]
Tullow Oil ordered to pay $76m in dispute with HiTechVision
Tullow Oil plc has been ordered to pay $76 million to HiTecVision in relation to a dispute regarding the acquisition of Spring Energy. DECISION In a statement Tullow said that a panel of arbitrators, working under the jurisdiction of Norwegian law, had delivered an award in favour of HiTecVision. “The panel had been asked to […]