UK's Tullow Oil to sell Kenya assets for at least $120m

UK's Tullow Oil to sell Kenya assets for at least $120m

West Africa-focused oil and gas explorer Tullow Oil said on Tuesday it would sell its assets in Kenya to Gulf Energy for at least $120m (R2.27bn) as it works to reduce its debt.

Tullow Exits Kenya in US$120 Million Deal

News Ghana, Latest Updates and Breaking News of Ghana, News Ghana, https://newsghana.com.gh/tullow-exits-kenya-in-us120-million-deal/Tullow Oil has agreed to sell its entire Kenyan oil and gas business to Nairobi‑based Gulf Energy Ltd for a minimum of $120 million, marking a full withdrawal from the country’s upstream sector. The transaction, announced on April 15, 2025, transfers all past and future responsibilities for the assets, including th…

Tullow Sells Kenya Oil Assets to Gulf Energy

Tullow Oil has officially signed an agreement to sell its entire working interests in Kenya to Gulf Energy Ltd. for a minimum consideration of $120 million.  The deal, which is part of Tullow’s broader financial repositioning efforts, marks a major shift in the ownership and development prospects of Kenya’s oil resources.  Richard Miller, Chief Financial Officer and Interim Chief Executive Officer of Tullow, emphasized the significance of the tr…

Tullow Oil to Sell Kenyan Assets to Gulf Energy for $120 Million

Tullow Oil will sell its entire working interests in Kenya, held through its subsidiary Tullow Kenya BV, to Gulf Energy, a Kenyan energy and infrastructure group, for a total consideration of $120 million.  The transaction is structured to provide Tullow, the London-listed exploration firm, with near-term cash receipts of $80 million and a back-in right [...] The post Tullow Oil to Sell Kenyan Assets to Gulf Energy for $120 Million appeared firs…

Samuel Dossou-Aworet-backed Tullow strikes $120 million deal to exit Kenya

Key PointsTullow Oil to sell Kenyan assets to Gulf Energy for $120 million as part of a debt reduction and refinancing strategy.Deal includes $80 million upfront and full transfer of liabilities; Tullow retains a royalty and 30% back-in option on future development.Tullow records $213 million in exploration write-offs, with $145 million tied to struggling Kenyan assets amid falling market capitalization.Tullow Oil Plc, the London-listed oil and …

Ksh15.56 Billion Gulf Energy-Tullow Deal Reshapes Kenya’s Oil Prospects - Nairobi Wire

Gulf Energy has inked a $120 million (Ksh15.56 billion) deal to acquire the assets of Tullow Kenya. The two firms confirmed the agreement on Tuesday morning, setting the stage for the British oil and gas company’s exit from the country after 13 years of operations. As part of the deal, Gulf Energy will make three equal payments of $40 million (Ksh5.18 billion), with the first instalment due upon approval of Tullow’s Field Development Plan (FDP) …