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
21 November 2024
E&P company is charting its own course through the transition, with a highly focused natural gas portfolio, early action on its own emissions and the development of a major carbon storage project
21 November 2024
Maintaining a competitive edge means the transformation must maximise oil resources as well as make strategic moves with critical minerals
20 November 2024
The oil behemoth recognises the need to broaden its energy mix to reduce both environmental and economic risks
19 November 2024
Energy minister says country is delaying first oil production until pipeline and refinery are ready
