Oil Company Tullow Finalizes its Farmdown Plans


Oil Company Tullow has finalized its farmdown plans and is expected to greatly reduce their presence in the Ugandan market by July 2018, their financial statement reads. The company that entered Uganda’s market in 2004 has sold majority of its shares in the oil bloc to Total and CNOOC, in a deal that will fetch over $210 million in cash upon completion and over $700mn after the pipeline and export processes have started