Tullow | GUPC

Tullow to sell Gabon assets to GOC for $300 million

Oil & Gas‚ Oil and Gas Industry | intent | March 26, 2025 | Comment off

Tullow Oil will sell its Gabon assets to Gabon Oil Company for USD 300 million net of tax, the company said on Monday.

The sale involves Tullow’s entire Gabonese portfolio, representing around 10,000 bopd of 2025 production guidance and approximately 36 million barrels of 2P reserves. The effective date for the transaction is January 1, 2025.

“This value accretive transaction with Gabon Oil Company aligns with our strategic priorities to materially accelerate deleveraging and is an important step as we progress our refinancing plans this year,” chief financial officer and interim CEO Richard Miller said.

Tullow’s Ghana drilling programme to commence in May 2025 with 2 Jubilee wells

Oil & Gas‚ Oil and Gas Industry | intent | March 26, 2025 | Comment off

Tullow Oil Plc’s says its Ghana drilling programme with Noble Venturer will commence in May 2025, with two Jubilee wells (one producer and one water injector).

The production is also expected to come onstream in the third quarter of 2025.

In its 2025 Outlook and Guidance Report, the oil giant said five new Jubilee wells (three producers and two water injectors) have been brought onstream, bringing the drill programme to an end approximately six months ahead of schedule with no recordable safety incidents, and saving over $88 million (gross) compared to the initial budget.

Tullow announces 16 days maintenance works on Jubilee Field

Oil & Gas‚ Oil and Gas Industry | intent | March 24, 2025 | Comment off

The maintenance activity, set to begin Tuesday, March 25, for 16 days, will upgrade operations, boost production capacity, and reduce risks in the field.

During this period, Tullow Ghana will focus on essential repairs and improvements to the Kwame Nkrumah FPSO vessel, including retooling of key equipment, conducting leak tests and expanding works on the facility to accommodate increased gas export.

Tullow Chairman reaffirms strong commitment to growth of Ghana’s energy sector

Oil & Gas‚ Oil and Gas Industry | intent | February 26, 2025 | Comment off

Tullow Plc Board Chairman, Phuthuma Nhleko, has reaffirmed the company’s strong commitment to the growth of Ghana’s energy sector, highlighting its long-term partnership with the country for close to two decades.

Tullow Chairman meets Mahama, reaffirms strong partnership

Oil & Gas‚ Oil and Gas Industry | intent | February 21, 2025 | Comment off

Tullow Plc Board Chairman, Phuthuma Nhleko has reaffirmed the company’s strong commitment to the growth of Ghana’s energy sector, highlighting its long-term partnership with the country for close to two decades.

Tullow Oil wins tax dispute in Ghana, avoids $320 million payment

Oil & Gas‚ Oil and Gas Industry | intent | January 6, 2025 | Comment off

The ICC Tribunal concluded that the Branch Profit Remittance tax (BPRT) does not apply to Tullow Ghana’s operations under its Petroleum Agreements for the Deepwater Tano and West Cape Three Points blocks, which include the notable Jubilee and TEN fields offshore Ghana.

Kosmos Energy ends takeover talks with Tullow Oil

Oil & Gas‚ Oil and Gas Industry | intent | December 18, 2024 | Comment off

Kosmos’ statement follows initial disclosures on December 12, 2024, when media reports revealed the early-stage discussions surrounding a potential all-share offer for Tullow.

Kosmos Energy drops bid to acquire Tullow

Oil & Gas‚ Oil and Gas Industry | intent | December 18, 2024 | Comment off

US player Kosmos Energy has dropped its bid to acquire Africa-focused UK independent Tullow Oil, the two companies announced on Tuesday. Last week, Kosmos unveiled a possible all-share offer to acquire Tullow. It had a deadline of January 9, 2025, to make the offer. The news sent Tullow stocks down 4% while Kosmos stocks enjoyed […]

Kosmos Energy Cancels Tullow Oil Takeover

Oil & Gas‚ Oil and Gas Industry | intent | December 18, 2024 | Comment off

U.S. oil and gas firm Kosmos Energy walked away from its pursuit of West Africa-focused Tullow Oil on Tuesday, without specifying any reason for the decision, prompting a 10% drop in Tullow’s shares.

London court set to decide on GRA’s $400m tax dispute with Tullow Oil

Oil & Gas‚ Oil and Gas Industry | intent | December 4, 2024 | Comment off

Tullow Oil has provided an update in its Trading Report released on November 29, 2024, revealing that the International Arbitration Court in London is preparing to deliver its decision on the tax dispute with the Ghana Revenue Authority (GRA).

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