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Originally published by Capital Business
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business
September 26, 2025
17h ago

Tullow completes sale of Kenya assets to Gulf Energy Ltd

Tullow completes sale of Kenya assets to Gulf Energy Ltd

NAIROBI, Kenya, Sept 26 - Tullow Oil plc (Tullow) has finalised the sale of its entire working interest in Kenya to Auron Energy E&P Limited, an Kenya breaking news | Kenya news today |..

✨ Key Highlights

Tullow Oil plc has completed the sale of its full Kenyan working interest to Auron Energy E&P Limited, an affiliate of Gulf Energy Ltd, for a minimum cash consideration of US$120 million.

  • Tullow received an initial payment of $40 million, with two further payments of $40 million each due in 2026 and 2028.
  • The transaction involves the sale of 100% of shares in Tullow Kenya BV.
  • Managing Director Madhan Srinivasan stated the proceeds will strengthen Tullow's balance sheet, and they retain royalty payments and a 30 percent back-in right for future development phases.

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