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Tullow and Kenya's Gulf Energy Win Extension for Oil-Field Plan

Tullow and Kenya's Gulf Energy Win Extension for Oil-Field Plan

Bloomberg14-07-2025
Tullow Oil Plc and Gulf Energy Ltd. won an extension to submit a development plan for fields in Kenya, a crucial step to completing a sale of the assets.
Tullow agreed to sell the oil deposits to the Nairobi-based trading firm in April, after struggling for more than a decade to bring them on stream. The $120 million deal was welcomed by investors eager to see Tullow's debts come down, but it's dependent on submission of a plan to get the oil flowing.
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