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Contingent consideration received following final investment decision in Uganda
The final investment decision for Uganda's oil projects as reported on 1 February 2022 has triggered a contingent consideration of $75 million in relation to Tullow’s sale of its assets in Uganda to TotalEnergies in 2020
February 16, 2022
Energy, Oil & Gas
Tullow Oil shareholders approve Uganda farmdown deal
Tullow Oil PLC shareholders on Wednesday voted to approve the sale of the company’s remaining 33.33% stake in Uganda’s oil fields and the proposed East African Crude Oil Pipeline
July 15, 2020
Energy, Oil & Gas
Cnooc opts out of Tullow-Total deal
The China National Offshore Oil Corporation on Tuesday notified Tullow Oil Plc and Total SA that it will not acquire a stake in Tullow's assets in Uganda
May 28, 2020
Energy, Oil & Gas
Industry experts see Total-Tullow deal a win-win boost
Regional analysts in the oil exploration and production sector have described last week’s sales and purchase agreement between Tullow Oil PLC and Total E&P Uganda as a 'win-win' boost for all players, and one that opens a new chapter for East Africa’s energy industry
April 30, 2020
Companies
Energy, Oil & Gas
Total E&P acquires Tullow Uganda’s stake for $575m
French oil major Total SA said on Thursday that is acquiring Tullow oil’s assets in Uganda's Lake Albert oil project for $575m (Shs2.1 trillion), with $500m to be paid once the deal has been approved by the government and $75m paid when a final investment decision has been reached
April 23, 2020
Energy, Oil & Gas
Uganda and oil companies reach deal on Tullow farm-down
The Uganda government and the three joint venture partners in the Lake Albert oil project —Tullow Oil, Total E&P, and China National Offshore Oil Corporation —have reached a deal on the sale of Tullow's assets, this website can confirm
April 7, 2020
Energy, Oil & Gas
NEMA clears Cnooc on Kingfisher, but no end in sight to oil deadlock
Zhao Shunqiag, the Cnooc president, said receiving the certificate is a “milestone”. But he said he could not tell when the ongoing deadlock between the government and the oil companies—Total E&P, and Tullow Oil—would be resolved
March 9, 2020
Companies
Energy, Oil & Gas
Total E&P freezes work on Uganda-Tanzania oil pipeline
French oil major Total, the lead joint venture partner on Uganda's proposed crude oil export pipeline has frozen all activities on the multibillion-dollar project citing “uncertainty” over its Uganda operation
September 4, 2019
Newsletters
Week in review: Tullow Oil, Uganda Airlines, Crane Bank
Final investment decision on Uganda's oil and gas projects to be delayed by collapse of Tullow Oil stake sale; Bank of Uganda loses suit against Crane Bank's former owner; Uganda Airlines starts commercial flights
September 1, 2019
Energy, Oil & Gas
Stalemate over tax breaks down Tullow Oil stake sale
Tullow Oil is initiating a new sales process to reduce its 33.3% stake in Uganda's Lake Albert oil project after its planned $900 million sale to joint venture partners Total E&P and the China National Offshore Oil Corporation failed to get clearance
August 29, 2019
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