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Article: Ghana: Tullow Oil sells Uganda stake for $1.5b.
- Article from:
- TendersInfo
- Article date:
- October 29, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: shiv03
Tullow Oil Plc, the U.K. explorer with the most licences in Africa has appointed Standard Chartered Plc to sell up to half its stakes in two Ugandan oil fields, the Sunday Times of London has reported.
Aidan Heavey, the chief executive, said the Company has already put together a list of about 10 companies that have pre-qualified for bidding. These are thought to include China National Petroleum Corporation, Sinopec, Total, Eni, Korea National Oil Corporation, and StatoilHydro.
The data room opens this week and Tullow is hoping to choose a buyer by the end of the year.
Analysts estimate that the company could pocket ...