General – Acquisition
Tullow Oil has signed a sale and purchase agreement to acquire the Prof. John Evans Atta Mills floating production, storage and offloading (FPSO) vessel for $205 million.
This follows the ratification of extensions to key petroleum agreements covering the Jubilee and TEN fields by Ghana.
The payment will be made upon completion at the end of the first quarter of 2027.
The FPSO serves as the production facility for the TEN fields on the Deep Water Tano Block offshore Ghana.
Following completion, Tullow intends to maximize operational synergies with the adjacent Jubilee field and drive further cost efficiencies to support longer-term development of both assets.
