Tullow Oil, Uganda sign asset sale deal

Sunday, 5 February 2012

Tullow Oil, Uganda sign asset sale deal

Kampala (AFP) Feb 3, 2012

Uganda on Friday signed production agreements with Anglo-Irish firm Tullow Oil, allowing the company to finalise a long-delayed $2.9 billion asset sale to France's Total and China's CNOOC. In March 2011, Tullow inked a deal to sell two-thirds of its Uganda assets to CNOOC and Total, but President Yoweri Museveni refused to sign off due to a contractual dispute with the firm. "Tullow Oil

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