3 Feb 2012

Government of Uganda and Tullow sign Production Sharing Agreements

Tullow Oil plc (Tullow) is pleased to announce that it has signed two new Production Sharing Agreements (PSAs) with the Government of Uganda. The new PSAs cover the EA-1 and Kanywataba licences in the Lake Albert Rift Basin. Tullow has also been awarded the Kingfisher production licence.

As a result of this signing, Tullow will now finalise arrangements with CNOOC and Total for completion of the farm-down and the related transfer of monies as soon as possible.

 

Aidan Heavey, Chief Executive Officer of Tullow, commented today:

"Today's signing is a vital step towards the development of the Lake Albert Rift Basin and the oil and gas industry in Uganda and East Africa. I look forward to working in partnership with the Government of Uganda and CNOOC and Total as we progress this world-class asset."

  • Corporate
  • Exploration & Appraisal
  • Development & Operations
  • South & East Africa
  • Uganda