Exxon Mobil Confirms Interest in Uganda Oil Production

2507 Views Kampala, Uganda
Tullow Oil has revealed that the U.S. oil giant, Exxon Mobil, is one of ten international companies interested in acquiring a stake in Tullow's acreage in Uganda. Industry paper, the Oil and Gas Journal today quotes Tullow's chief executive officer, Aidan Heavey, saying that his company has already pre-qualified ten firms to bid for the stake and hopes to get a buyer by yearend. Exxon Mobil, parent company of Esso and Mobil around the world, confirms that it is studying a possible entry in Tullow's Ugandan project, but declined to comment further. This news comes a day after the Chief Finance Officer of Royal Dutch Shell said it was unlikely that his company would make a bid for the Tullow stake. Italy's largest oil and natural gas company, Eni SPA this week acknowledged it has accessed the data room of Tullow's Uganda oil project and is considering buying into the project. Tullow has 100 percent interest in the Block 2 exploration region and a 50% interest in two other operation blocks in western Uganda.