Tullow Oil in talks with Indian groups over Kenyan project

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Commodity

Oil

Writer

IPG Staff2

Oil · 01 August, 2022

Tullow Oil in talks with Indian groups over Kenyan project

July 30 (Reuters) - Executives from Tullow Oil (TLW.L) held talks with India's ONGC Videsh Ltd (ONVI.NS) in Nairobi this week as the London-based firm seeks a strategic investor for its onshore oil project in Kenya, the company said on Saturday.

Commodity

Oil

Writer

IPG Staff2

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A senior official at Kenya's Ministry of Petroleum and
Mines tweeted earlier this week that ministry officials had met the Indian High
Commissioner to Kenya along with representatives of ONGC Videsh, the overseas
investment arm of Oil and Natural Gas Corp, and Indian Oil Corporation Limited
(IOC.NS).


"The meeting was positive and the parties agreed
to hold further discussions in the coming weeks," Africa-focused Tullow
said in a tweet about the meeting, adding that the talks had been hosted by the
ministry of petroleum and mines.

Africa-focused Tullow said earlier in July it was
confident it could make substantial progress to find an investor for its
onshore oil project in the East African country in the second half of the year.


By: Rhea Binoy / July 31, 2022 4:05 PM