28th Apr 2023 11:29
Tullow Oil PLC - Africa and South America-focused oil and gas exploration company - Signs an asset swap deal with Perenco Oil and Gas Gabon SA. Says the deal will optimise Tullow's equity ownership across key fields in Gabon. This is achieved through a "cashless asset swap involving the proposed exchange of participating interests held by both parties in certain licences in Gabon", Tullow says. Expects the transaction to complete by the end of 2023. Under the transaction, Tullow Oil says Perenco will have interest in its Limande, Turnix, Moba and Oba assets. Adds that Tullow's 2023 group production guidance of 58,000 to 64,000 barrels of oil remains unchanged. Read More
