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Tullow Oil sells out of Uganda for USD575 million (UGX2.2 trillion) to Total

Muhereza Kyamutetera

Under the terms of the deal, Total will acquire all of Tullow’s existing 33.3334% stake in each of the Lake Albert project licenses EA1, EA1A, EA2 and EA3A and the proposed East African Crude Oil Pipeline (EACOP) System.

Tullow Oil and French Oil giant Total have today announced, entering into an agreement, through which Total shall acquire Tullow’s entire interests in Blocks 1, 1A, 2 and 3A in…

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