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Tullow to take Energy Africa

Tullow Oil Plc is set to buy Energy Africa Ltd after its offer of US$493 million for the oil expl...

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While no comment from the UK firm was forthcoming at press time, it is believed the acquisition of the Africa-based exploration firm will allow it to increase its output in Africa and have access to Energy Africa’s 90% stake in the Kudu offshore gas field in Namibia. Currently, Tullow’s involvement in the continent is with a project in Gabon.

Energy Africa is currently controlled by Malaysia’s Petronas and is based in Cape Town, South Africa.

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