Dorothy Thompson is to step down as chairwoman of Tullow Oil after a tumultuous three-year stint in which she steered the company through a crisis that threatened its survival.The former Drax chief
Finance > Financial services
Carlyle in talks to acquire Occidental s Ghana oilfields: report
05 April 2021
Boru Energy, an acquisition vehicle set up by private equity giant Carlyle Group in association with with Aidan Heavey and Tom Hickey, is reported to be in discussions with Occidental Petroleum to acquire its oil and gas assets in Ghana for over $500 million.
The acquisition of Occidental’s stakes in the offshore Jubilee and Tweneboa Enyenra Ntomme (TEN) fields, is the first investment by Boru Energy since its launch in October 2019.
Occidental holds 24 per cent stake in Jubilee and a 17 per cent interest in TEN fields, which are both operated by London-listed Tullow Oil. Occidental had previously said it was seeking to sell its Ghanaian assets.
SOURCE: Reuters | Editor
CATEGORY:
LONDON (Reuters) – Boru Energy, backed by private equity giant Carlyle Group, is in discussions with Occidental Petroleum to acquire its oil and gas fields in Ghana for over $500 million, industry and banking sources said.
The acquisition of Occidental’s stakes in the offshore Jubilee and Tweneboa Enyenra Ntomme (TEN) fields would be the first investment for Boru Energy, led by former Tullow Oil CEO Aidan Heavey, which Carlyle’s international energy fund CIEP launched in 2019.
It would also mark a symbolic moment for Heavey, who founded Tullow Oil in 1985 and who oversaw the development of the Jubilee field which started production in 2010 before stepping down in 2017 after missing production targets.