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July 22, 2025
1y ago

Tullow Sells Entire Business in Kenya for Ksh15.6 Billion

Tullow Sells Entire Business in Kenya for Ksh15.6 Billion

The sale confirms the company's exit from the Kenyan market...

✨ Key Highlights

Tullow Oil has agreed to sell its entire business interests in Kenya for Ksh15.6 billion (USD 120 million), officially marking its exit from the Kenyan market after more than a decade.

  • The deal involves the sale of assets to Auron Energy E&P Limited, an affiliate of Gulf Energy Ltd.
  • Madhan Srinivasan, Managing Director of Tullow Kenya, stated that proceeds will go towards reducing debt.
  • The agreement includes future royalties from oil production and a potential 30% re-entry option for Tullow depending on future developments.

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Part of the Day's Coverage

Economic Developments and Business Transactions

Tullow sells businesses in Kenya for Ksh15.6 billion; millions lost as Nairobi Water fails to disconnect nonpaying users.

Millions lost as Nairobi Water fails to disconnect nonpaying users
Millions lost as Nairobi Water fails to disconnect nonpaying users

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