Tullow Oil to sell Kenyan assets to Gulf Energy for $120 million
LONDON: Tullow Oil plc announced Monday that its subsidiary, Tullow Overseas Holdings BV, has agreed to sell its Kenyan operations to Gulf Energy Ltd. for a minimum of $120 million. The deal includes an initial $40 million payment upon completion, followed by two additional $40 million payments tied to project milestones. Tullow will also receive potential royalty…