Pandion Energy has received approval for the acquisition of all licences in Tullow Oil Norge’s existing portfolio, including a 20% interest in the field containing the Cara oil and gas discovery.
Total confirmed it would acquire part of Tullow Oil's stake in an Ugandan project for $900million.
The newly formed Aker BP has taken over a string of Tullow Norge’s licences.
Uganda has shared out eight production licences between Tullow Oil and France’s Total, a news report said today.
Tullow Oil's plans to go for gold near Statoil's mammoth Johan Sverdrup discovery have come up dry.
Tullow Oil has confirmed an investigation of the turret bearing on the FPSO (floating, production, storage and offloading) vessel Kwame Nkurmah has confirmed its bearing has been damaged.
Statoil has signed a farm-in agreement with Tullow to acquire a 35% interest in an exploration block offshore Uruguay.
Hyperdynamics Corporation said it has filed legal action against its partners under the Joint Operating Agreement governing the oil and gas exploration rights offshore Guinea. The company’s subsidiary, SCS corporation, has also filed parallel actions in the US District Court for the Southern District of Texas and before the American Arbitration Association against Tullow Guinea Ltd.
Sterling Energy has confirmed a 13.5% working interest in the deepwater C-10 block offshore Mauritania.
A plan for developing Norway's Zidane natural gas field could be presented in the second or third quarter of 2016, with the early parts of summer being the most likely time frame, Austria's OMV has indicated.
Tullow Oil has resumed gas exports from its flagship Jubilee field in Ghana earlier than expected.
State-run Ghana Gas Company has shut down its Atuabo gas processing plant due to an unexpected disruption of gas supplies from the offshore Jubilee field operated by Tullow Oil, the plant's director said on Tuesday. George Yankey told Reuters that Tullow had informed the plant of the disruption on its floating production vessel. Gas supplies were cut on July 3 and there was no indication when they would resume, he said.
Africa-focused Tullow Oil is turning to low-cost technology in its search for new oil reserves after the collapse in the price of crude and a poor run of discoveries forced the company to slash its exploration budget by 80 percent. Energy companies worldwide, from wildcatters to international behemoths, cut spending in an effort to keep their books balanced after the near-halving of oil prices since last June as a result of sharp growth in global supplies. British-based Tullow slashed its exploration budget for this year to $200 million from a target of $1 billion in 2014. Its reduced programme includes wells in Gabon, Kenya, the Netherlands, Suriname and Pakistan.
Tullow Oil has agreed to pay out $250million following a tax dispute in Uganda. The energy firm was locked in a court battle with the government of Uganda and the Uganda Revenue Authority ('URA') over its farm-downs with CNOOC and Total in 2012.
Tullow Oil is said to be preparing to announce job cuts by the end of the first quarter as oil prices continue to fall. It was reported that the company, which owns assets in the North Sea, is currently reviewing staffing levels. Details of the cuts could be presented to the market next month.
Tullow Oil said it will focus the majority of its exploration and appraisal expenditure in its East and West African assets. The company released an interim management statement which said it was looking to re-allocate capital as a result of recent oil prices and reduced commercial success from offshore drilling. The TEN development project, Jubilee production and the non-operated West Africa portfolio is expected to generate “significant value”, attracting the greatest share capital in 2015.