Government,Total, respond as Tullow's $900M Farm-Down Deal Flops Top story

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Energy Ministry Permanent Secretary, Robert Kasande  and Tullow's outgoing  country Director, Jimmy Mugerwa at Serena hotel recently.

Energy Ministry Permanent Secretary, Robert Kasande and Tullow's outgoing country Director, Jimmy Mugerwa at Serena hotel recently.

In short
“We are therefore confident that as Tullow moves to re-initiate a new sales process, the JVPs will remain committed to fulfilling tax obligations” said Kasande in a statement.



Total’s exploration & production President, Arnaud Breuillac in a statement said despite the termination of this agreement, Total together with its partners CNOOC and Tullow will continue to focus all its efforts on progressing the development of the Lake Albert oil resources.




Tullow's Paul McDade’s statement said the Joint Venture Partners had been targeting a Final Investment Decision for the Uganda development by the end of 2019, but the termination of this transaction is likely to lead to further delay.

 

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