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).
Tullow Oil disclosed this in its Trading Update, released on November 29, 2024, to investors.
The court is going ahead with the ruling after hearing arguments from both sides on the issues.
Tullow and the Ghana Forestry Commission have completed all requirements to commence full-scale implementation of a joint nature-based carbon offset project, launched earlier this year.
Commercial exports are expected in 2028.
EPRA has extended the Field Development Plan review to December 31.
Tullow Oil is yet to make much headway in its search for a strategic partner, which remains one of the key aspects needed to move Kenya’s oil project forward.
The Sh258 million paid to the Turkana county government was a settlement for accrued levies chargeable under the devolved unit’s Finance Act, Tullow Oil Company has said.
Independent energy company Tullow Oil has plans to increase oil production at active fields in Ghana and Gabon in 2024 and is preparing to conduct exploratory drilling in Ivory Coast in 2025. Committed to developing oil and gas in Africa in a responsible manner, the company’s asset portfolio across the continent not only contributes to fuel security but creates economic opportunities for host communities. Tullow Oil’s CEO’s Rahul Dhir will speak at this year’s African Energy Week (AEW): Invest in African Energy conference – Africa’s largest energy event taking place from November 4-8 in Cape Town.
Tullow Oil has announced a substantial investment of approximately US$90million over the next decade to support Ghana’s efforts in combatting deforestation and reducing carbon emissions.
Tullow has formalised a strategic partnership with the Ghana Forestry Commission to implement a high-integrity, jurisdictional-based Reduced Emissions from Deforestation and Degradation (REDD+) programme.
The Ministry of Lands and Natural Resources and the Forestry Commission have signed a historic Emissions Reductions Purchase Agreement (ERPA) with Tullow, marking a significant milestone in Ghana’s efforts to address deforestation and forest degradation.