REG - Tullow Oil PLC - Report on Payments to Govts
09/05/2025 15:45
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RNS Number : 1378I Tullow Oil PLC 09 May 2025
Tullow Oil plc
Report on payments to governments for the year 2024
Introduction
Tullow Oil plc has prepared the following consolidated report in respect of
payments made to governments for the year ended 31 December 2024 in accordance
with the Reports on Payments to Governments Regulations 2014 (2014/3209) as
amended by the Reports on Payments to Governments (Amendment) Regulations 2015
(2015/1928) and DTR 4.3A of the Financial Conduct Authority's Disclosure and
Transparency Rules. A copy of the Report has been submitted to the National
Storage Mechanism and will shortly be available for inspection at
https://data.fca.org.uk/#/nsm/nationalstoragemechanism.
Further details, including the basis of preparation, can be found in the
Company's Payment to Government Report. This report is available for download
from:
https://www.tullowoil.com/application/files/2316/7958/7310/2022_Payment_to_Government_Report.pdf
(https://www.tullowoil.com/application/files/2316/7958/7310/2022_Payment_to_Government_Report.pdf)
Disclosure by licence and country
2024 Production entitlements Production entitlements Income taxes Royalties (cash only) Bonus payments Licence fees Infrastructure improvement payments
Licence / Company level BBL000 $000 $000 $000 $000 $000 $000
Echira - - - 4,359 - - -
Limande - - - 464 - - -
M'Oba - - - 12 - - -
Niungo - - - 2,733 - - -
Oba - - - 175 - - -
Simba - - - 4,368 - - -
Tchatamba Marin - - - 12,100 - - -
Turnix - - - 46 - - -
Tullow Oil Gabon SA - - 105,052 - - - -
Total Gabon - - 105,052 24,257 - - -
Deep Water Tano - - - - - 59 -
Jubilee Field Unit Area 621 47,422 - - - - 1,031
TEN Development Area 186 14,213 - - - - 349
West Cape Three Points - - - - - 18 -
Tullow Ghana Ltd. - - 253,069 - - - 941
Total Ghana 807 61,635 253,069 - - 78 2,321
Block 10BA - - - 138 - 231 -
Block 10BB 1,103 93
Block 13T - - - 674 - 19 -
Total Kenya - - - 1,915 - 343 -
Block MLO 114 - - - - - 182 -
Block MLO 119 - - - - - 140 -
Block MLO 122 - - - - - 136 -
Total Argentina - - - - - 458 -
Tullow Oil SK Limited - - - 878 - - - -
Total UK - - - 878 - - - -
807 61,635 357,243 26,173 - 878 2,321
*Where production entitlement is paid in barrels this has been multiplied by
the Group's 2024 average realised oil price of $76.40/bbl.
Disclosure by government
Production Entitlements Production entitlements* Income taxes Royalties (cash only) Dividends Bonus payments Licence fees Infrastructure improvement
2024 bbls'000 USD'000 USD'000 USD'000 USD'000 USD'000 USD'000 USD'000
Adavnce CIT Trésor Public - - 105,052 - - - - -
Direction Général des Impôts - - - 24,257 - - - -
Total Gabon - - 105,052 24,257 - - - -
Ghana National Petroleum Corporation 807 61,635 - - - - - -
Ghana Revenue Authority - - 253,069 - - - 78 2,321
Total Ghana 807 61,635 253,069 - - - 78 2,321
Turkana Country Government - - - 1,915 - - - -
Ministry of Energy and Petroleum - - - - - - 343 -
Total Kenya - - - 1,915 - - 343 -
Secretary of Energy, Ministry of Economy - - - - - - 458 -
Total Argentina - - - - - - 458 -
His Majesty's Revenue and Customs - - -878 - - - - -
Total UK - - -878 - - - - -
Total 807 61,635 357,243 26,173 - - 878 2,321
*Where production entitlement is paid in barrels this has been multiplied by
the Group's 2024 average realised oil price of $76.40/bbl.
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