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RNS Number : 6783H

Tullow Oil PLC

07 December 2020

News Release

Tullow receives licence extensions in Kenya

7 December 2020 - Tullow Oil plc ("Tullow") is pleased to announce that Tullow and its Joint Venture partners have received extensions to their exploration licences for Blocks 10BB and 13T in Kenya to the end of 2021. This follows the approval of the work programme and budget for next year by the Ministry of Mines and Petroleum.

As announced at the Group's recent Capital Markets Day, the licence extensions will allow the Joint Venture partners to re-assess Project Oil Kenya and design an economic project at low oil prices whilst preserving the phased development concept. In parallel, over the coming months, the Joint Venture partners will work closely with the Government of Kenya on land and water agreements, gaining approval of the Environmental and Social Impact Assessments and finalising the commercial framework for the project. The successful completion of this work will enable the submission of Field Development Plans to the Government of Kenya.

Rahul Dhir, Chief Executive Officer of Tullow Oil Plc, commented today:

"I would like to thank the Government of Kenya for granting this extension which the Joint Venture partners will use to fully re-assess the development concept for this important project."

CONTACTS

 
 Tullow Oil plc                            Murrays 
  (London)                                  (Dublin) 
  (+44 20 3249 9000)                        (+353 1 498 0300) 
  Chris Perry, Matthew Evans (Investors)    Pat Walsh 
  George Cazenove (Media)                   Joe Heron 
========================================  ===================

Notes to editors

Tullow is an independent oil and gas, exploration and production group, quoted on the London, Irish and Ghanaian stock exchanges (symbol: TLW). The Group has interests in over 70 exploration and production licences across 15 countries.

For further information, please refer to our website at www.tullowoil.com.

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December 07, 2020 02:00 ET (07:00 GMT)

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