Tullow Oil and partners in Kenya have won more time to work out how to produce the South Lokichar oil.
Tullow Oil is moving away from its focus on asset sales and has set out a long-term vision, under which it will generate $7 billion over the next 10 years.
Tullow Oil has completed the sale of its Ugandan assets to Total, receiving $500 million.
As an up-and-coming area for decommissioning, Africa is following developments in more mature areas, such as the North Sea.
Tullow Oil has reached a binding tax agreement with Uganda, which should allow it to close a sale to Total shortly.
Tullow Oil has completed its twice yearly redetermination of its reserve-based lending facility, with $1.8 billion of debt capacity approved by lenders.
Uganda has signed a host government agreement (HGA) with Total on the East Africa Crude Oil Pipeline (EACOP), followed by new declarations with Tanzania on the link.
Few companies are paying down debt while staying bullish on exploration plans, but Africa Oil is an exception.
Tullow Oil produced 77,000 barrels per day of oil in the first half, in line with expectations.
Frontier Energy has gone online with its highly regarded Africa E&P Summit, due to take place on September 16 and 17.
Stena Drilling has been awarded a new contract for work in the Suriname-Guyana basin with Tullow Oil.
Tullow Oil produced 77,700 barrels per day in the first half of the year, while the realised oil price was $52 per barrel.
Tullow Oil has announced the end of its Early Oil Pilot Scheme (EOPS) in Kenya, declaring the project to be a success.
The Covid-19 pandemic has increased the number of oil and gas assets being put up for sale globally past 12.5billion barrels in reserves, according to new analysis.
Amidst the oil price crash crisis and the pressure on companies, opportunities are emerging for those with resources.
CNOOC Uganda will not pre-empt the sale of Tullow Oil’s stake in Lake Albert to Total.
Tullow Oil has declared force majeure at its site in northern Kenya, putting plans to sanction the project this year in jeopardy.
Ghana’s Ministry of Energy has called for Eni and Springfield Exploration and Production to begin a process of unitisation covering the companies’ Sankofa and Afina finds.
Additional drilling at Gabon’s Dussafu Marin licence has been deferred because of coronavirus, BW Energy has said, blaming international travel restrictions.
Tullow Oil has struck a deal to sell its entire stake in Uganda’s Lake Albert project to France’s Total for $575 million.
Tullow Oil has appointed Rahul Dhir to serve as its new CEO and an executive director, with Dorothy Thompson returning to her role as non-executive chair.
The double threat of coronavirus and the price crash has forced oil companies around the world to rearrange plans and save money where possible, and Africa is set to feel the squeeze.
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.
A pipeline has been completed at the Al Jahraa field, in Egypt, allowing gas sales to begin and eliminating flaring, United Oil & Gas has reported.
Tullow Oil has terminated a drilling contract with the Maersk Venturer in Ghana, in line with the operator’s plans to save cash amid a difficult year.