Tullow Oil signs Sh15bn Kenyan assets sale deal to Gulf Energy

Tullow Oil Plc has signed a sale and purchase agreement with Auron Energy E&P Limited, an affiliate of Gulf Energy Ltd, to divest its entire interest in Kenya for a minimum cash consideration of $120 million (about Sh15.5 billion).

The deal, which marks an exit of the London-based firm from the country, was executed through Tullow Overseas Holdings BV, a wholly owned subsidiary of Tullow Oil Plc.