Tullow Oil is planning to boost its stake in Ghana’s offshore Jubilee field, Financial Times reports. The oil and gas exploration company has offered $300 million for an additional 3.5% stake in the West Cape Three points block.
The shares, which Tullow Oil is seeking to acquire, are controlled by EO Group. With the latest purchase, Tullow Oil will increase its shares in the oil block to around 26.5%.
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