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Tullow has sold its assets in Equatorial Guinea to Panoro Energy. Tullow Oil plc (OTCMKTS: TUWOY) reported Wednesday that it has completed the sale of its assets in Equatorial Guinea to Panoro Energy ASA, having received an $88.8 million payment from the buyer. “Although Tullow will continue to have a financial link to the assets in Ceiba and Okume fields, the closing of this transaction marks Tullow’s exit from its licenses in Equatorial Guinea after 18 years,” the company noted in a written statement emailed to Rigzone. According to Tullow, the Panoro transaction also includes contingent cash payments of up to $16 million linked to asset performance and oil price. The seller also stated the transaction’s closure follows approvals from Equatorial Guinea’s government, Tullow and Panoro shareholders, and other parties.

Equatorial guineaRahul dhirTullow oilEquatorial guinea to panoro energyPanoro energyDussafu marin permit explorationProduction sharingWest africaOil and gas petroleum news events stories articles analysis commentary headlines stocks finance commodities maps picturesபூமத்திய ரேகை கினியாராகுல் தீர்துள்லோவ் எண்ணெய்ப்ரொடக்ஶந் பகிர்வுஎண்ணெய் மற்றும் வாயு பெட்ரோலியம் செய்தி நிகழ்வுகள் கதைகள் கட்டுரைகள் பகுப்பாய்வு வர்ணனை தலைப்புச் செய்திகள் ஸ்டாக்ஸ் நிதி பொருட்கள் வரைபடங்கள் படங்கள்