• Upstream
  • Pipelines & Transport
  • Downstream
Saturday, September 13, 2025
Oil&Gas Advancement
  • Home
  • News
    4bn New Israeli Gas Offtake Contracts

    Energean Lands $4bn New Israeli Gas Offtake Contracts

    LNG Procurement and Trading

    Singapore-China Apply Cap on LNG Procurement and Trading

    Sanctions Against Russia

    US To EU – For Sanctions Against Russia, Say No to Their Oil

    110 Megawatt Heavy Duty Gas Turbine

    China Rolls Out 110-Megawatt Heavy-Duty Gas Turbine

    Power of Siberia 2 Pipeline Deal

    Russia-China Power of Siberia 2 Pipeline Deal: A New Horizon

    OPEC to Boost Oil Output

    OPEC+ To Boost Oil Output in October Amid Market Push

    US Calls on Europe to Block Russian Oil, Gas for Tougher Sanctions

    Production Sharing Contract of Nigeria

    Production-Sharing Contract of Nigeria with TotalEnergies

    Develop Fields as Tiebacks

    UK May Develop Fields as Tiebacks for Oil & Gas Exploration

  • Projects
    4bn New Israeli Gas Offtake Contracts

    Energean Lands $4bn New Israeli Gas Offtake Contracts

    LNG Procurement and Trading

    Singapore-China Apply Cap on LNG Procurement and Trading

    Production Sharing Contract of Nigeria

    Production-Sharing Contract of Nigeria with TotalEnergies

    First Arctic LNG 2 Gas Delivery

    First Arctic LNG 2 Gas Delivery from Russia to China Starts

    Major Energy Deals

    Officials From Russia and The US Discuss Major Energy Deals

    Arctic LNG 2 Project from Russia

    Arctic LNG 2 Project from Russia Achieves Record Gas Output

    Yellowtail Field Project

    Saipem Completes Construction of Yellowtail Field Project

    Venture Capital Makes Phenomenal US LNG Investment

    Venture Capital Makes Phenomenal US LNG Investment

    Mabadala Energy Invests in US Natural Gas Market Expansion

    Mabadala Energy Invests in US Natural Gas Market Expansion

  • Whitepapers

    OGA 2017 Post Show Report

    US Polyethylene Export Market Report 2017-2020

    US Polyethylene Export Market Report 2017-2020

    Embedded SSD Flash Management

    Enterprise SSD: More Than Just a New Kind of Hard Drive

    Efficiency, Visibility and Reliability Keys to lower costs and greater profitability in oil and gas operations

    Don’t Miss the Unconventional Resource Revolution’s Next Wave

    Better Safety, Better Business: Maintain Compliance and Drive Revenue: Put All of Your Data to Work

    Breaking the Application Barrier: Why Data is the Most Valuable Asset in the Oil and Gas Industry

    Drilling Optimization Through Advanced Analytics Using Historical and Real-Time Data

  • Press Releases
    Cloudera and Aramco Plan to Collaborate on AI driven Digital Innovation in Saudi Arabia

    Cloudera and Aramco Plan to Collaborate on AI-driven Digital Innovation in Saudi Arabia

    Youth-Empowerment at Namibia Oil and Gas Conference 2025

    Namibia Oil and Gas Conference 2025 Announces Future Generations Masterclass in Partnership with the Namibia Youth Energy Forum

    Alaska LNG

    Glenfarne Announces Over $115 Billion of Strategic Partner Interest for Alaska LNG

    agreements with US companies

    Aramco announces 34 MoUs and agreements with US companies

    Sinopec Sets New Vertical Well Depth

    Sinopec Sets New Vertical Well Depth Record of 5,300 Meters

    Jubail Asset Integrity

    Jubail to Host the 3rd Asset Integrity and Process Safety Conference & Exhibition 2025

    IPTC 2025 Launched: Driving Innovation, Sustainability, and Excellence in Energy

    Ocean Business announces exhibitor list for 2025 show

    Ocean Business 2025 conference programme announced

  • Market Reports
    AI Technology Maturing the Oil and Gas Workforce

    AI & Technology Maturing the Oil and Gas Workforce

    HDPE Market in Oil and Gas

    HDPE Market in Oil and Gas: Trends and Global Forecast

    Top 5 Oil and Gas Sector Trends that are Active in 2025

    Oil-and-Gas-Analytics

    Oil and Gas Analytics Market Growth Trends and Forecast

    Gas-Transportation

    Transport Capacity – Key to Gas Sector Growth in India

    Offshore-Drilling

    Namibia Showcases its Offshore Drilling Activities

    Global-Oil

    Demand for Global Oil to Grow to Almost 104 mb/d in 2025

    ExxonMobil to sell Norway upstream operations for $4.5 billion

    ExxonMobil completes acquisition of Pioneer Natural Resources

    Ithaca Energy unit to acquire Chevron’s Central North Sea assets

    ExxonMobil doubles Permian footprint after finalizing Pioneer acquisition

  • Events
  • Contact Us
No Result
View All Result
Oil&Gas Advancement
No Result
View All Result
Home Press Releases

Total Acquires Tullow Entire Interests in the Uganda Lake Albert Project

in Press Releases
Renewables: Total Continues to Expand its Footprint in Southeast Asia in Distributed Solar
Share on FacebookShare on Twitter

Total and Tullow have entered into an Agreement, through which Total shall acquire Tullow’s entire interests in Uganda Lake Albert development project including the East African Crude Oil Pipeline.

The overall consideration paid by Total to Tullow will be $575M, with an initial payment of $500M at closing and $75M when the partners take the Final Investment Decision to launch the project. In addition, conditional payments will be made to Tullow linked to production and oil price, which will be triggered when Brent prices are above $62/bbl. The terms of the transaction have been discussed with the relevant Ugandan Government and Tax Authorities and agreement in principle has been reached on the tax treatment of the transaction.

Under the terms of the deal, Total will acquire all of Tullow’s existing 33.3334% stake in each of the Lake Albert project licenses EA1, EA1A, EA2 and EA3A and the proposed East African Crude Oil Pipeline (EACOP) System. The transaction is subject to the approval of Tullow’s shareholders, to customary regulatory and government approvals and to CNOOC’s right to exercise pre-emption on 50% of the transaction.

“We are pleased to announce that a new agreement has been reached with Tullow to acquire their entire interests in the Lake Albert development project for less than 2$/bbl in line with our strategy of acquiring long-term resources at low cost, and that we have an agreement with the Uganda government on the fiscal framework,” said Patrick Pouyanné, Total Chairman and CEO. “This acquisition will enable us, together with our partner CNOOC, to now move the project forward toward FID, driving costs down to deliver a robust long-term project.”

About Total

Total is a major energy player that produces and markets fuels, natural gas and low-carbon electricity. Our 100,000 employees are committed to better energy that is safer, more affordable, cleaner and accessible to as many people as possible. Active in more than 130 countries, our ambition is to become the responsible energy major.

Previous Post

BP confirms commitment to completing sale of its Alaska business

Next Post

ExxonMobil modifies facilities to produce medical-grade sanitizer for COVID-19 response

Related Posts

Cloudera and Aramco Plan to Collaborate on AI driven Digital Innovation in Saudi Arabia
Press Releases

Cloudera and Aramco Plan to Collaborate on AI-driven Digital Innovation in Saudi Arabia

July 31, 2025
Youth-Empowerment at Namibia Oil and Gas Conference 2025
Press Releases

Namibia Oil and Gas Conference 2025 Announces Future Generations Masterclass in Partnership with the Namibia Youth Energy Forum

July 18, 2025
Alaska LNG
Pipelines & Transport

Glenfarne Announces Over $115 Billion of Strategic Partner Interest for Alaska LNG

June 4, 2025
agreements with US companies
America

Aramco announces 34 MoUs and agreements with US companies

May 21, 2025
Sinopec Sets New Vertical Well Depth
Drilling

Sinopec Sets New Vertical Well Depth Record of 5,300 Meters

May 21, 2025
Jubail Asset Integrity
Press Releases

Jubail to Host the 3rd Asset Integrity and Process Safety Conference & Exhibition 2025

May 15, 2025
Next Post
ExxonMobil to sell Norway upstream operations for $4.5 billion

ExxonMobil modifies facilities to produce medical-grade sanitizer for COVID-19 response

LatestNews

LNG Procurement and Trading
Gases

Singapore-China Apply Cap on LNG Procurement and Trading

September 12, 2025
Sanctions Against Russia
America

US To EU – For Sanctions Against Russia, Say No to Their Oil

September 12, 2025
110 Megawatt Heavy Duty Gas Turbine
Gases

China Rolls Out 110-Megawatt Heavy-Duty Gas Turbine

September 11, 2025
Power of Siberia 2 Pipeline Deal
Gases

Russia-China Power of Siberia 2 Pipeline Deal: A New Horizon

September 11, 2025
OPEC to Boost Oil Output
News

OPEC+ To Boost Oil Output in October Amid Market Push

September 11, 2025
America

US Calls on Europe to Block Russian Oil, Gas for Tougher Sanctions

September 10, 2025

About Us

Oil & Gas Advancement is a specialized platform delivering latest news and industry insights for the global oil and gas sector. Featuring market intelligence, expert opinions, events and updates, it serves as a trusted and strategic resource for industry stakeholders navigating energy transitions.

Subscribe Us

Resources

  • Advertise with us
  • Contact Us
  • Newsletter Archive
  • Download Mediapack

System

  • Search
  • Site Map
  • RSS Feed
  • Upstream
  • Pipelines & Transport
  • Downstream

© 2025 Copyright Valuemediaservices 2025 All rights reserved.

No Result
View All Result
  • Home
  • News
  • Projects
  • Whitepapers
  • Press Releases
  • Market Reports
  • Events
  • Contact Us

© 2025 Copyright Valuemediaservices 2025 All rights reserved.