FPSO offshore Ghana
Troubled Tullow mulls Kenya options
The future of the Anglo-Irish independent’s Kenyan assets hangs in the balance as it puts its money on Ghana
Debt-burdened Tullow Oil showed only a marginal improvement in its 2020 performance compared to 2019. And so the firm is looking at monetisation options for its Kenyan reserves, while it continues to divest many of its other African assets and focuses mainly on Ghana. Tullow logged a $1.22bn loss in 2020 compared with a $1.69bn loss in 2019. The producer attributed last year’s loss to $1.24bn in exploration write-offs amid the slump in oil prices. Tullow has already divested assets in Equatorial Guinea and Gabon, as well as its stake in the Lake Albert project in Uganda, in an effort to bolster its balance sheet. The firm says that “options [are] being worked to unlock value in Kenya and Sou
Also in this section
12 December 2025
The federal government is working with Alberta to improve the country’s access to Asian markets and reduce dependence on the US, but there are challenges to their plans
12 December 2025
The latest edition of our annual Outlook publication, titled 'The shape of energy to come: Creating unique pathways and managing shifting alliances', is available now
11 December 2025
The removal of the ban on oil and gas exploration and an overhaul of the system sends all the right messages for energy security, affordability and sustainability
10 December 2025
The economic and environmental cost of the seven-year exploration ban will be felt long after its removal
