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Oil:Open Challenge between Eni and Tullow

19 April 2010

The challenge between Eni and Tullow for the conquest of the two blocks 1 and 3A in Uganda is still open: the President of Uganda, Yoweri Museveni, announced in a statement that the government of Kemala will discuss the dispute between the two companies and a decision is expected in the coming weeks.


In footnote of the Ugandan Bureau of Presidence  we read  that will  be chosen  a "competent and capable company in the oil and gas sector." In short,  all the proposals remain on the table. And  Tullow back to the office to enforce its right of first refusal on 50% of the two wells, currently owned by Heritage, and for which Eni had already concluded an agreement of approximately 1.5 billion : as reported by the Financial Times the vertices of the British group have submitted the Ugandan government a development plan that provides potential partnership with CNOOC of China or the French Total.


Representatives of the Chinese group had already met the President of Uganda, according to Bloomberg agency reported. Finally, as explained by the Ugandan Minister of Energy, Hillary Onek, the Kampala government expects  from the sale of Heritage wells approximately $ 400 million in tax revenues.



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