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
19 December 2024
Deepwater Development Conference welcomes Shell’s deepwater development manager to advisory board for March 2025 event
19 December 2024
The government must take the opportunity to harness the sector’s immense potential to support the long-term development of the UK’s low-carbon sector
18 December 2024
The energy transition will not succeed without a reliable baseload, but the world risks a shortfall unless more money goes into gas
18 December 2024
The December/January issue of Petroleum Economist is out now!
