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.