CLOSING OF THE SALE OF TULLOW OIL TO GABON OIL COMPANY! CLOTURE DE LA VENTE DE TULLOW OIL À GABON OIL COMPANY !

 



 

English version

 

Tullow Oil has announced the successful completion of the sale of its assets in Gabon to Gabon Oil Company (GOC). The transaction is said to have been completed on July 29, 2025, with Tullow receiving the full proceeds.

 

This sale involves 100% of the shares in Tullow's subsidiary, Tullow Oil Gabon S.A., which held all of Tullow's non-operated working interests in Gabon. The total cash consideration for the sale is US$307 million, or about 184 billion CFA francs. Tullow Oil's assets in Gabon represented approximately 10,000 barrels of oil per day.

 

This sale marks Tullow's exit from its licenses in Gabon after 21 years. The proceeds from the sale will be used by Tullow to strengthen its balance sheet by significantly reducing its net debt. Tullow's Chief Financial Officer and Interim Chief Executive Officer, Richard Miller, stated that the company's immediate focus is now on completing its Kenya transaction in 2025 and its current drilling campaign in Ghana.

 

 

 

 

 

Version française

 

Tullow Oil a annoncé la finalisation de la vente de ses actifs au Gabon à la Gabon Oil Company (GOC). La transaction aurait été conclue le 29 juillet 2025, Tullow ayant reçu l'intégralité des fonds.

 

Cette vente porte sur 100 % des actions de la filiale de Tullow, Tullow Oil Gabon S.A., qui détenait toutes les participations de Tullow au Gabon. Le montant total de la transaction s'élève à 307 millions de dollars américains, soit environ 184 milliards de francs CFA. Les actifs de Tullow Oil au Gabon représenteraient approximativement 10 000 barils de pétrole par jour.

 

Cette cession marque le retrait de Tullow de ses licences au Gabon après 21 ans. Les recettes de la vente seront utilisées par Tullow pour renforcer son bilan contable en réduisant significativement sa dette nette. Richard Miller, directeur financier et PDG par intérim de Tullow, a déclaré que la société se concentre désormais sur la finalisation de sa transaction au Kenya en 2025 et sur sa campagne de forage actuelle au Ghana.

Comments

Post a Comment

Popular posts from this blog

GAGAN GUPTA’S MASTERFUL TRICK! LA MAGISTRALE ENTOURLOUPE DE GAGAN GUPTA !

Image
English version In 2009, Olam market value collapsed, and its market share was valued at zero, worthless. A company by the name of Muddy Waters declared that Olam was heading toward bankruptcy. To keep Olam solvent, Singapore’ sovereign fund Tomasek, had to rescue them; but Olam knew they needed to bring in new sources of revenue. To do that, targeted Africa. Olam came to Gabon, linked itself with the Ali Bongo’s regime and made Ali Bongo’ son the second in charge at Olam Gabon. For every project that Olam started in Gabon, the country took huge loan that were funneled to Olam. For one such project, the building of a fertilizer plan in Port-Gentil by Olam, Gabon took out a 750 billion CFA francs loan that went 100% to Olam. The problem? The factory was never built. Who is left to repay the loan? The Gabonese people. Once Olam had established itself in Gabon and that all the money had been received from the Gabonese government, Gagan Gupta wanted to prevent Olam from ...
Read more