Total renegotiates Uganda oil agreement with Tullow

摘要

London-Total is renegotiating its farm-in deal with Tullow Oil for three oil blocks in Uganda because of the delays caused by the UK company's tax dispute with Kampala, Total CEO Christophe de Margerie said February 16. Speaking to reporters in London, de Margerie said he was optimistic Total could secure a better contract. "We are renegotiating before we start, before we pay," de Margerie said. "We want to be sure we can continue with more exploration that needs to be done," he said, adding that Total wanted to be sure of the length of the exploration license Tullow holds at the blocks.