French oil-and-gas major Total SA (TOT) Tuesday confirmed the finalization of its farm-in with Tullow Oil PLC (TLW.LN) for an interest of 33.33%, covering EA-1 and EA-2 licenses, the new Kanywabata license and the Kingfisher production license in Uganda's Lake Albert region.

Total said it will be the operator of EA-1, while Tullow will operate EA-2 and CNOOC Ltd. (CEO) will operate the Kanywataba license and the Kingfisher production licenses, from the former EA-3A block.

The finalization follows the recent signing of new production sharing agreements between Tullow and the government of Uganda , as well as the granting of the Kingfisher production license, consolidating the exploration rights for around $1.5 billion, Total said in a statement.

First priority will be given to the EA-1 license as Total and Tullow plan "an ambitious" exploration and appraisal program from 2012 onwards, it also said.

Διαβάστε ακόμα