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Tullow Oil has completed the sale of its Ugandan assets to Total.
Made in two considerations, this sale will see Tullow receive $575 million in total.
Although Tullow will retain a financial link to the development project through potential contingent payments, the closing of this transaction marks Tullow's exit from its licences in Uganda after 16 years of operations.
At 1:05pm:
(LON:TLW) Tullow Oil PLC share price was +0.57p at 20.94p
(LON:TOT) Total Produce PLC share price was 0p at 101.5p