TULLOW-TOTAL DEAL: Govt okays $575m payment by Total
Tullow will now sale its shares in Uganda’s oil space to Total in earnest after the oil companies and government through the URA and the energy ministry agreed on all issues especially taxes. Total will now pay Tullow a final sum of 575 million dollars in two tranches of 500m and 75 which will see Tullow exit Uganda as an oil prospector. According to a statement seen by the NTV Business desk, the company expects the transaction to close in the coming days.