t
Tullow Oil plc published its consolidated report on payments to governments for the year ended 31 December 2023 on 08 May 2024. The report detailed total payments of $368,143,000, which included $60,255,000 in production entitlements (equivalent to 777,000 barrels), $270,276,000 in income taxes, $30,942,000 in royalties, $1,136,000 in licence fees, and $5,534,000 in infrastructure improvement payments.
| Date | 8 May 2024 |
| Time | 12:45:00 |
| Category | Miscellaneous |
| ID | 6447N |
Tullow Oil plc
Report on payments to governments for the year 2023
Introduction
Tullow Oil plc has prepared the following consolidated report in respect of payments made to governments for the year ended 31 December 2023 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. 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: https://www.tullowoil.com/application/files/8017/1043/4798/Tullow_Payment_to_Government_Report_2023.pdf
Disclosure by licence and country
|
|
|
|||||||
|
2023 |
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 |
- |
- |
- |
4,299 |
- |
- |
- |
|
|
Limande |
- |
- |
- |
3,352 |
- |
- |
- |
|
|
M'Oba |
- |
- |
- |
179 |
- |
- |
- |
|
|
Niungo |
- |
- |
- |
3,086 |
- |
- |
- |
|
|
Oba |
- |
- |
- |
7,506 |
- |
- |
- |
|
|
Simba |
- |
- |
- |
1,496 |
- |
- |
- |
|
|
Tchatamba Marin |
- |
- |
- |
10,032 |
- |
- |
- |
|
|
Turnix |
- |
- |
- |
991 |
- |
- |
- |
|
|
Tullow Oil Gabon SA |
- |
- |
128,163 |
- |
- |
- |
- |
|
|
Total Gabon |
- |
- |
128,163 |
30,942 |
- |
- |
- |
|
|
Deep Water Tano |
- |
- |
- |
- |
- |
59 |
- |
|
|
Jubilee Field Unit Area |
593 |
45,983 |
- |
- |
- |
- |
907 |
|
|
TEN Development Area |
184 |
14,273 |
- |
- |
- |
- |
336 |
|
|
West Cape Three Points |
- |
- |
- |
- |
- |
18 |
- |
|
|
Tullow Ghana Ltd. |
- |
- |
157,206 |
- |
- |
- |
4,291 |
|
|
Total Ghana |
777 |
60,255 |
157,206 |
- |
- |
78 |
5,534 |
|
|
PSC B (Chinguetti EEA) |
- |
- |
- |
- |
- |
35 |
- |
|
|
Total Mauritania |
- |
- |
- |
- |
- |
35 |
- |
|
|
Block 10BA |
- |
- |
- |
- |
- |
231 |
- |
|
|
Block 10BB |
|
|
|
|
|
185 |
|
|
|
Block 12B |
- |
- |
- |
- |
- |
93 |
- |
|
|
Block 13T |
- |
- |
- |
- |
- |
38 |
- |
|
|
Total Kenya |
- |
- |
- |
- |
- |
547 |
- |
|
|
Block MLO 114 |
- |
- |
- |
- |
- |
174 |
- |
|
|
Block MLO 119 |
- |
- |
- |
- |
- |
133 |
- |
|
|
Block MLO 122 |
- |
- |
- |
- |
- |
129 |
- |
|
|
Total Argentina |
- |
- |
- |
- |
- |
436 |
- |
|
|
Orinduik |
- |
- |
- |
- |
- |
40 |
- |
|
|
Total Guyana |
- |
- |
- |
- |
- |
40 |
- |
|
|
Tullow Oil SPE Limited |
- |
- |
- |
- |
- |
|
- |
|
|
Tullow Oil SK Limited |
- |
- |
- 15,094 |
- |
- |
- |
- |
|
|
Total UK |
- |
- |
- 15,094 |
- |
- |
- |
- |
|
|
|
777 |
60,255 |
270,276 |
30,942 |
- |
1,136 |
5,534 |
|
*Where production entitlement is paid in barrels this has been multiplied by the Group's 2023 average realised oil price of $77.5/bbl.
Disclosure by government
|
|
Production Entitlements |
Production entitlements* |
Income taxes |
Royalties (cash only) |
Dividends |
Bonus payments |
Licence fees |
Infrastructure improvement |
|||||||||
|
2023 |
bbls'000 |
USD'000 |
USD'000 |
USD'000 |
USD'000 |
USD'000 |
USD'000 |
USD'000 |
|||||||||
|
Adavnce CIT Trésor Public |
- |
- |
128,163 |
- |
- |
- |
- |
- |
|||||||||
|
Direction Général des Impôts |
- |
- |
- |
30,942 |
- |
- |
- |
- |
|||||||||
|
Total Gabon |
- |
- |
128,163 |
30,942 |
- |
- |
- |
- |
|||||||||
|
Ghana National Petroleum Corporation |
777 |
60,255 |
- |
- |
- |
- |
- |
- |
|||||||||
|
Ghana Revenue Authority |
- |
- |
157,206 |
- |
- |
- |
78 |
5,534 |
|||||||||
|
Total Ghana |
777 |
60,255 |
157,206 |
- |
- |
- |
78 |
5,534 |
|||||||||
|
Mauritanian Finance Ministry & Direction of Environmental Commission |
- |
- |
- |
- |
- |
- |
35 |
- |
|||||||||
|
Total Mauritania |
- |
- |
- |
- |
- |
- |
35 |
- |
|||||||||
|
Ministry of Energy and Petroleum |
- |
- |
- |
- |
- |
- |
547 |
- |
|||||||||
|
Total Kenya |
- |
- |
- |
- |
- |
- |
547 |
- |
|||||||||
|
Secretary of Energy, Ministry of Economy |
- |
- |
- |
- |
- |
- |
436 |
- |
|||||||||
|
Total Argentina |
- |
- |
- |
- |
- |
- |
436 |
- |
|||||||||
|
Guyana Geology and Mines Commission (GGMC) |
- |
- |
- |
- |
- |
- |
40 |
- |
|||||||||
|
Total Guyana |
- |
- |
- |
- |
- |
- |
40 |
- |
|||||||||
|
Her Majesties Revenue and Customs |
- |
- |
-15,094 |
- |
- |
- |
- |
- |
|||||||||
|
Total UK |
- |
- |
-15,094 |
- |
- |
- |
- |
- |
|||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
777 |
60,255 |
270,276 |
30,942 |
- |
- |
1,136 |
5,534 |
|||||||||
*Where production entitlement is paid in barrels this has been multiplied by the Group's 2023 average realised oil price of $77.5/bbl.