Uganda Total and Cnooc divvy up remains of Tullow Oil

摘要

Though both parties seem keen to keep the matter out of the public eye, Total and Cnooc have been regularly meeting to come up with a solution to their long battle over 21% of the 33% Tullow Oil would like to sell of its Ugandan blocks ( AEI 793). The two majors have already agreed to split the assets down the middle, which would give each party 44% and leave Tullow Oil only 12%. But there is still one point to hash out: the oil firms need to determine who will replace Tullow Oil as operator of the development licences, as the junior will no longer have right to claim this role.