Tullow considering sale of stake in Ugandan oil field

|About: Tullow Oil Plc. (TUWLF)|By:, SA News Editor

Tullow Oil (TUWLF, TUWOY) says it may sell part of its stake in a Ugandan oil field it is developing with Total (TOT) and Cnooc (CEO) to focus on Kenya, where a more supportive government is helping a project there move faster.

The project to develop Uganda's Lake Albert basin has been delayed for years and has weighed on Tullow's share price; in the meantime, a project to develop Kenya's South Lockichar basin, which was discovered five years after the oil finds in Uganda, has moved forward.

Earlier: Tullow upbeat on Mauritania.