Tullow Sells Turkana Oil Assets to Gulf

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Tullow Oil exited Kenya after 14 years, selling its Turkana oil operations to Gulf Energy for Ksh 16 billion (around USD 120 million). The deal gives Gulf full control of the long-delayed project, while Tullow retains royalty rights and an option to reclaim up to 30%. Tullow discovered Kenya’s first oil in 2012 but faced infrastructure and financing challenges. Gulf Energy said the acquisition strengthens Kenya’s energy security and future oil production.