⌘K
t
Tullow Oil plc reported on payments made to governments for the year ended 31 December 2024. The consolidated report, submitted on 09 May 2025, details total payments including $61,635k (807k bbls) in production entitlements, $357,243k in income taxes, $26,173k in royalties, $878k in licence fees, and $2,321k in infrastructure improvement payments.
| Date | 9 May 2025 |
| Time | 15:35:00 |
| Category | Miscellaneous |
| ID | 1378I |
Tullow Oil plc
Report on payments to governments for the year 2024
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:
https://www.tullowoil.com/application/files/2316/7958/7310/2022_Payment_to_Government_Report.pdf
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.