French oil-and-gas major Total SA (TOT) Tuesday confirmed the finalization of its farm-in with Tullow Oil PLC (TLW.LN) for an interest of 33.33%, covering EA-1 and EA-2 licenses, the new Kanywabata license and the Kingfisher production license in Uganda's Lake Albert region.

Total said it will be the operator of EA-1, while Tullow will operate EA-2 and CNOOC Ltd. (CEO) will operate the Kanywataba license and the Kingfisher production licenses, from the former EA-3A block.

The finalization follows the recent signing of new production sharing agreements between Tullow and the government of Uganda , as well as the granting of the Kingfisher production license, consolidating the exploration rights for around $1.5 billion, Total said in a statement.

First priority will be given to the EA-1 license as Total and Tullow plan "an ambitious" exploration and appraisal program from 2012 onwards, it also said.
Ακολουθήστε το energia.gr στο Google News!Παρακολουθήστε τις εξελίξεις με την υπογραφη εγκυρότητας του energia.gr

Διαβάστε ακόμα