Tullow Oil Plc, the London-listed explorer in which Gabonese-Beninese businessman Samuel Dossou-Aworet owns a major stake, has secured a long-term extension for its Jubilee and TEN field licenses in Ghana. The approvals run through 2040 and come alongside a new gas sales agreement that sets pricing for the remainder of the license period. The company said it is finalizing the last regulatory steps with government agencies.
In its latest trading update, Tullow confirmed that a new Jubilee Gas Sales Agreement has now been signed, giving the company certainty on future gas offtake. This follows a memorandum of understanding reached in June between Tullow, Kosmos Energy, PetroSA, Ghana National Petroleum Corporation and Explorco. That framework covers the West Cape Three Points and Deep Water Tano blocks, the areas that host Ghanas main offshore oil developments.
Tullow advances Jubilee development plans