Tullow Oil plc has completed the sale of its entire working interest in the South Lokichar Basin in Kenya to Auron Energy E&P Ltd, an affiliate of Gulf Energy Ltd. PRIORITIES The company has received the full tranche A proceeds of US$40 million (£30m) of the total minimum $120m. “The successful completion of this transaction marks a […]
Tag: Gulf Energy Ltd
Tullow signs SPA for Kenya assets
Tullow Oil plc has signed a sale and purchase agreement for a minimum US$120 million in cash for its Kenya assets with Auron Energy E&P Ltd, an affiliate of Gulf Energy Ltd. PRIORITY The portfolio, comprising four onshore blocks in the South Lokichar Basin, represents circa 463 million barrels of 2C resources. Payment, in three […]
Tullow to sell Kenya oil assets for at least $120m
Tullow Oil plc has agreed to sell its entire working interests in four blocks in the South Lokichar Basin, Kenya for a “minimum” of $120 million cash. VALUE The heads of terms agreement follows the company’s attempts in 2023 to secure a farm-out after its then partners exited the project. Buyer Gulf Energy Ltd will […]