An oil rig off Ghana
Tullow Oil expands Ghana ownership
The Anglo-Irish independent will pre-empt former partner's divestment
Anglo-Irish independent Tullow Oil will exercise its right to pre-empt US superindie Occidental Petroleum’s sale of Ghanaian assets to New York-listed Kosmos Energy and state-owned Ghana National Petroleum Corporation (GNPC). Occidental last month agreed to sell its 11.05pc interest in the Deep Water Tano (DWT) block—which includes stakes in the Jubilee and TEN fields. Ownership of Jubilee before Occidental’s divestment comprised Kosmos (24.08pc), Tullow (35.48pc), Occidental subsidiary Anadarko (24.08pc), GNPC (13.64pc) and South Africa’s Petrosa (2.73pc). TEN was owned by Tullow (47.18pc), Kosmos and Anadarko (17pc each), GNPC (15pc) and Petrosa (3.82pc). Tullow’s $150mn pre-emption will i
Also in this section
10 June 2025
The bloc may find it very difficult to replicate Japan’s approach due to fundamental differences in policy and the markets
10 June 2025
Scapegoating foreign buyers will not solve country’s gas shortages
10 June 2025
US gasoline consumption is at its highest level since before COVID, but while stocks remain healthy, the hurricane season threatens
10 June 2025
There has been a flourishing of non-governmental initiatives aimed at incentivising voluntary action on emissions over the past five years, and momentum is not slowing down.
