REG - Tullow Oil PLC - Ghana Petroleum Agreements Extended

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RNS Number : 7479T  Tullow Oil PLC  20 February 2026

Tullow Oil plc

Ghana Petroleum Agreements extended

20 February 2026 - Tullow Oil plc (Tullow) is pleased to announce that the
extension of its West Cape Three Points and Deep Water Tano Petroleum
Agreements, which cover the Jubilee and TEN fields in Ghana, have been
ratified by the Ghanaian Parliament. Accordingly, these agreements have been
extended to 31 December 2040. From 20 July 2036, Ghana National Petroleum
Corporation's (GNPC) share in the field will increase by a further 10%
interest and the joint venture partners' shares will decrease pro rata.

In addition, Tullow on behalf of itself and the Joint Venture (JV) Partnership
has secured revised terms for the supply of gas from the Jubilee field to the
end of the extended period at an escalating price of $2.50/mmbtu. Furthermore,
a gas payment security mechanism and heads of terms for the potential supply
of gas from the TEN fields has been agreed with the Government of Ghana.

Ian Perks, Chief Executive Officer, Tullow Oil Plc, commented:

"The ratification of these agreements secures our long-term operating
position, providing a runway for responsible resource development and a stable
investment environment alongside the payment security for gas. This is a
significant milestone which underpins Tullow's long-term commitment to Ghana
and allows for continued investment in its principal Jubilee and TEN assets.
It is a result of excellent collaboration between the joint venture partners,
including GNPC, and the Government of Ghana."

 

 CONTACTS
 Tullow Investor Relations                    Camarco (Media)

                                            (+44 20 3757 4980)
 ir@tullowoil.com (mailto:ir@tullowoil.com)

                                            Billy Clegg
 Matthew Evans

                                              Georgia Edmonds

                                              Rebecca Waterworth

 

Notes to editors

Tullow is an independent energy company that is building a better future
through responsible oil and gas development in Africa. Tullow's operations are
focused on its core producing assets in Ghana. Tullow is committed to becoming
Net Zero on its Scope 1 and 2 emissions by 2030, with a Shared Prosperity
strategy that delivers lasting socio-economic benefits for its host nations.
The Group is quoted on the London and Ghanaian stock exchanges (symbol: TLW).
For further information, please refer to: www.tullowoil.com
(http://www.tullowoil.com/) .

 

Follow Tullow on:

LinkedIn: www.linkedin.com/company/Tullow-Oil
(http://www.linkedin.com/company/Tullow-Oil)

X: www.X.com/TullowOilplc (http://www.X.com/TullowOilplc)

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