LONDON — Tullow Oil Gabon has signed an asset swap agreement with Perenco Oil and Gas Gabon covering numerous offshore and onshore fields in various licenses.
The arrangement, Tullow said, should allow it to optimize its equity ownership in certain fields, including the offshore Tchatamba cluster, which it plans to develop as a core production hub.
Currently, the company has shares in more than 20 non-operated onshore and offshore fields in Gabon, with combined net production last year of about 14,900 bbl/d of oil.
Its sees opportunities for future growth via its interest in the DE8 license for infrastructure-led exploration leading to tie-ins to existing Tchatamba facilities.
Perenco will receive Tullow Gabon’s stakes in the Limande, Turnix, Moba and Oba assets and part of its share of the Simba assets.
Tullow will gain part of Perenco’s interests in the Kowe (Tchatamba) and DE8 assets, resulting in post-completion holdings of 40%.
04.28.2023
