Tullow Oil plc has signed a sale and purchase agreement to sell all the shares in its Gabonese subsidiary to Gabon Oil Company for US$300 million cash, net of tax. DEBT The move, covering all of Tullow’s non-operated working interests in Gabon, follows the binding heads of terms signed in March. Payment is due following […]
Tag: Gabon Oil Company
Tullow to sell Gabon assets for £300m
Tullow Oil plc has signed a binding heads of terms agreement to sell its non-core Gabon assets to Gabon Oil Company for £300 million in cash net of tax. OPTIMISATION The sale comprises non-operated assets of 10 thousand barrels of oil per day of 2025 production guidance and c.36 million barrels of 2P reserves. Tullow […]