Tullow Oil has sold part of its interests to China’s National Off-shore Oil Company (CNOOC) and Total at US$2.9bn (about Shs7 trillion) paving the way for the start of oil production in the Lake Albert Basin. This deal had been delayed over a tax dispute between Tullow and Uganda Revenue Authority.
The sale and purchase agreements concluded yesterday allows CNOOC and Total one-third interest each in 1, 2 and 3A exploration areas. Brain Glover, the general manager Tullow Uganda, announced
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- Farmers want to hold pro-Gaddafi demonstration
- Policeman held for extortion
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- Police officer beaten over woman
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- Tullow and Total seal
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- Villa’s Zivo admires Lule’s off-pitch players’ rel...
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- England coach to handle Uganda’s volleyball team
- Goals galore as Corporate returns
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- Uganda ‘can be rid of poverty by 2020’
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