7th Nov 2013 12:03
LONDON (Alliance News) - Tullow Oil PLC Thursday said it will resume operations in block 10BB and Block 13T in Kenya following successful discussions with the national and county government and with leaders of the local community at the site.
The FTSE 100-listed oil and gas exploration and production company said it hopes to restart operations on November 8 after demonstrations by the local community over employment issues had prevented work.
The company decided to suspend the site on October 28 to prevent further escalation of the demonstrations and to complete discussions to resolve the issue for the long term.
Tullow Oil said that, following the discussions, it has signed a Memorandum of Understanding with the Kenyan Minister of Energy stating that all parties will work together inclusively over the long-term and to ensure that operations can continue without disruption in the future.
The company said it re-affirms its commitment to local employment, local opportunities and transparency throughout its operations in northern Kenya.
Tullow Oil shares were down 0.6% to 926.28 pence Thursday.
By Tom McIvor; [email protected]; @TomMcIvor1
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