Tullow Oil's Three Tracts in the Lake Albert Basin Contain Estimated Oil Resources of 2.5 Billion Barrels

摘要

As of the date of publication of this issue of AOG, which is to say 1 September, the tax dispute between the Ugandan government and Heritage Oil Plc of Calgary (Canada), which involves a sum of $405 million, had still not been resolved, which was preventing the farm-in agreements concluded between Tullow Oil, Total and CNOOC for the development of Blocks 1, 2 and 3A in the Lake Albert basin from being finalized. There is a lot at stake for all the parties concerned since, according to Tullow Oil's latest estimates, these tracts contain total oil resources of around 2.5 billion barrels.