Business

Tullow awaits approval to buy Ugandan oilfield

11 April 2012

The Ugandan government will "imminently" approve the sale of oilfields in the country which are owned by Canada's Heritage Oil to Britain's Tullow Oil.

The deal has been held up for some time because of rival interest in the Ugandan fields from Italy's ENI. But ENI has now formally told Heritage it is out of the running.

The Tullow deal should complete before the end of March.

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East Africa
Italy
Uganda