Tullow Oil has secured its reserve-based lending (RBL) facility at $1.9 billion, giving it around $700 million of liquidity, while slashing its spending this year further from plans announced just two weeks ago.
Australia’s FAR has temporarily suspended plans for drilling offshore The Gambia, in response to the coronavirus pandemic, while the oil price crash has made talks on securing debt for Senegal’s Sangomar development harder.
Australia’s FAR has signed a deal to allocate its share of crude from Senegal’s Sangomar field to Glencore Energy.