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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."