Home > News > Monitoring News > Tullow to seek new Uganda buyer as farmdown runs out of time

Tullow to seek new Uganda buyer as farmdown runs out of time

Tullow Oil’s farmdown to Total and CNOOC of around 20% of its Ugandan licences terminated on 29 August, following the expiry of the sale and purchase agreements (SPAs). Tullow said it had been unable to secure a further extension. With a final investment decision (FID) on the development now pushed further back, Total has suspended development of the export pipeline to Tanzania’s Tanga port.

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