UPDATED 1 Sept: The EI library in London is temporarily closed to the public, as a precautionary measure in light of the ongoing COVID-19 situation. The Knowledge Service will still be answering email queries via email , or via live chats during working hours (09:15-17:00 GMT). Our e-library is always open for members here: eLibrary , for full-text access to over 200 e-books and millions of articles. Thank you for your patience.
Tullow Oil to farm-down Ugandan assets
Ashurst is advising Tullow Oil on a substantial farm-down of its assets in Uganda to Total E&P Uganda. Under the terms of the agreement, Total will acquire 21.57% in the Lake Albert development project in Uganda, with Tullow retaining a 11.76% interest in the upstream project and pipeline, which would reduce to 10% when the government of Uganda formally exercises its right to back-in. The Lake Albert project is expected to achieve around 230,000 b/d when it reaches plateau.
News Item details
Journal title: Petroleum Review
Subjects: Banking, finance and investment, Economics, business and commerce, Pipeline, Oil and gas, Exploration and production
