Tullow Signs Production Sharing Contract in Uganda

Tullow Oil's subsidiary, Energy Africa, has signed a Production Sharing Contract with the Government of the Republic of Uganda in respect of Block 1. Energy Africa will hold a 50% interest and Heritage Oil Corporation 50%. Heritage will act as operator on behalf of the contractor group.

Block 1 is located immediately north of Blocks 2 and 3 where Energy Africa also holds 50% interests with Hardman Resources and Heritage Oil Corporation respectively. Exploration work undertaken in these areas, including drilling and seismic surveys, has demonstrated the presence of hydrocarbon reservoir and potentially large structures in the Albertine Graben of which Block 1 covers the northern extent.

Aidan Heavey, Chief Executive of Tullow Oil said:

"The addition of Block 1 to our acreage in the Albertine Graben in Uganda consolidates our position in this highly prospective frontier basin where an accelerated exploration and appraisal program is planned in the coming months."
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE


Most Popular Articles


From the Career Center
Jobs that may interest you
Senior Land Professional Job
Expertise: Landman|Lease Analyst
Location: Oklahoma City, OK
 
Surface Land Professional Job
Expertise: Landman|Lease Analyst
Location: San Antonio, TX
 
Automation Systems Analyst II
Expertise: Business Development
Location: Houston, TX
 
search for more jobs

Brent Crude Oil : $51.46/BBL 4.63%
Light Crude Oil : $48.9/BBL 4.78%
Natural Gas : $3.18/MMBtu 0.90%
Updated in last 24 hours