Report on Payments to Govts - Replacement
Tullow Oil published its 2024 report on payments to governments across Gabon, Ghana, Kenya, Argentina and UK.
- Total payments to governments $448.3m
- Income taxes $357.2m
- Royalties (cash only) $26.2m
- Licence fees $0.9m
- Infrastructure improvement payments $2.3m
- Production entitlements 807 bbls
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(Revision to the announcement issued on 9 May 2025 - RNS Number 1378I. This update solely reflects a revised link to the 2024 report. All other details remain unchanged.)
Introduction
Tullow Oil plc has prepared the following consolidated report in respect of payments made to governments for the year ended 31 December 2024 in accordance with the Reports on Payments to Governments Regulations 2014 (2014/3209) as amended by the Reports on Payments to Governments (Amendment) Regulations 2015 (2015/1928) and DTR 4.3A of the Financial Conduct Authority's Disclosure and Transparency Rules. A copy of the Report has been submitted to the National Storage Mechanism and will shortly be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.
Further details, including the basis of preparation, can be found in the Company's Payment to Government Report. This report is available for download from:
Disclosure by licence and country
| 2024 | Production entitlements | Production entitlements | Income taxes | Royalties (cash only) | Bonus payments | Licence fees | Infrastructure improvement payments |
|---|---|---|---|---|---|---|---|
| Licence / Company level | BBL000 | $000 | $000 | $000 | $000 | $000 | $000 |
| Echira | - | - | - | 4,359 | - | - | - |
| Limande | - | - | - | 464 | - | - | - |
| M'Oba | - | - | - | 12 | - | - | - |
| Niungo | - | - | - | 2,733 | - | - | - |
| Oba | - | - | - | 175 | - | - | - |
| Simba | - | - | - | 4,368 | - | - | - |
| Tchatamba Marin | - | - | - | 12,100 | - | - | - |
| Turnix | - | - | - | 46 | - | - | - |
| Tullow Oil Gabon SA | - | - | 105,052 | - | - | - | - |
| Total Gabon | - | - | 105,052 | 24,257 | - | - | - |
| Deep Water Tano | - | - | - | - | - | 59 | - |
| Jubilee Field Unit Area | 621 | 47,422 | - | - | - | - | 1,031 |
| TEN Development Area | 186 | 14,213 | - | - | - | - | 349 |
| West Cape Three Points | - | - | - | - | - | 18 | - |
| Tullow Ghana Ltd. | - | - | 253,069 | - | - | - | 941 |
| Total Ghana | 807 | 61,635 | 253,069 | - | - | 78 | 2,321 |
| Block 10BA | - | - | - | 138 | - | 231 | - |
| Block 10BB | 1,103 | 93 | |||||
| Block 13T | - | - | - | 674 | - | 19 | - |
| Total Kenya | - | - | - | 1,915 | - | 343 | - |
| Block MLO 114 | - | - | - | - | - | 182 | - |
| Block MLO 119 | - | - | - | - | - | 140 | - |
| Block MLO 122 | - | - | - | - | - | 136 | - |
| Total Argentina | - | - | - | - | - | 458 | - |
| Tullow Oil SK Limited | - | - | - 878 | - | - | - | - |
| Total UK | - | - | - 878 | - | - | - | - |
| 807 | 61,635 | 357,243 | 26,173 | - | 878 | 2,321 |
*Where production entitlement is paid in barrels this has been multiplied by the Group's 2024 average realised oil price of $76.40/bbl.
Disclosure by government
| Production Entitlements | Production entitlements* | Income taxes | Royalties (cash only) | Dividends | Bonus payments | Licence fees | Infrastructure improvement | |
|---|---|---|---|---|---|---|---|---|
| 2024 | bbls'000 | USD'000 | USD'000 | USD'000 | USD'000 | USD'000 | USD'000 | USD'000 |
| Adavnce CIT Trésor Public | - | - | 105,052 | - | - | - | - | - |
| Direction Général des Impôts | - | - | - | 24,257 | - | - | - | - |
| Total Gabon | - | - | 105,052 | 24,257 | - | - | - | - |
| Ghana National Petroleum Corporation | 807 | 61,635 | - | - | - | - | - | - |
| Ghana Revenue Authority | - | - | 253,069 | - | - | - | 78 | 2,321 |
| Total Ghana | 807 | 61,635 | 253,069 | - | - | - | 78 | 2,321 |
| Turkana Country Government | - | - | - | 1,915 | - | - | - | - |
| Ministry of Energy and Petroleum | - | - | - | - | - | - | 343 | - |
| Total Kenya | - | - | - | 1,915 | - | - | 343 | - |
| Secretary of Energy, Ministry of Economy | - | - | - | - | - | - | 458 | - |
| Total Argentina | - | - | - | - | - | - | 458 | - |
| His Majesty's Revenue and Customs | - | - | -878 | - | - | - | - | - |
| Total UK | - | - | -878 | - | - | - | - | - |
| Total | 807 | 61,635 | 357,243 | 26,173 | - | - | 878 | 2,321 |
*Where production entitlement is paid in barrels this has been multiplied by the Group's 2024 average realised oil price of $76.40/bbl.
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