Tullow Oil plc
About Tullow Oil plc
Tullow is a leading independent oil & gas, exploration and production group, quoted on the London, Irish and Ghanaian stock exchanges (symbol: TLW). The Group has interests in over 130 exploration and production licences across 22 countries which are managed as three regional business units: West & North Africa, South & East Africa and Europe, South America and Asia.
Total partnering with Tullow to develop Uganda’s oil resources
In 2011, Tullow farmed-down to Total E&P Uganda and CNOOC Ltd in an agreement that saw each of the three partners acquiring equal stakes of 33.3% interest in the Lake Albert Exploration Areas 1, 1A-Lyec, 2 and 3-Kingfisher. According to the decision of the Government of Uganda, Total E&P Uganda became the operator of Block 1, Tullow the operator of Block 2 and CNOOC operator of the Block 3A. Together, the partners have concluded all the exploration activities and will soon move into the Development phase of Uganda’s oil resources.
Uganda National Oil Company
About the Uganda National Oil Company
Uganda National Oil Company (UNOC) was established under Section 42 of the Petroleum (Exploration, Development and Production) Act and Section 7 of the Petroleum (Refining, Conversion, Transmission and Midstream Storage) Act, both of 2013. UNOC was incorporated under the Company’s Act of 2012 as a limited liability company wholly owned by the Government of Uganda. Its overall function is to handle the State’s Commercial interests in the petroleum sector and to ensure that the resource is exploited in a sustainable manner.