Report on payments to governments for 2016

RNS Announcement

RNS Number : 6669J

Tullow Oil PLC

30 June 2017

Tullow Oil plc

Report on payments to governments for the year 2016

Introduction

Tullow Oil plc has prepared the following consolidated report in respect of payments made to governments for the year ended 31 December 2016 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 Guidance and Transparency Rules. Further details, including the basis of preparation, can be found on pages 167 to 171 of the Company's Annual Report and Accounts.

This report is available for download from http://www.tullowoil.com/investors/regulatory-news.

Disclosure by licence and country

	Production entitlements	Production entitlements*	Income taxes	Royalties (cash only)	Dividends	Bonus payments	Licence fee's	Infrastructure improvement payments
	bbls	$'000	$'000	$'000	$'000	$'000	$'000	$'000
M'Boundi	167	10,254	-	-	-	-	-	-
Total Congo	167	10,254	-	-	-	-	-	-
CI-103	-	2,277	-	-	-	-	-	-
Total Cote d'Ivoire	-	2,277	-	-	-	-	-	-
Ceiba	109	6,693	-	-	-	-	-	-
Okume Complex	366	22,472	-	-	-	-	-	-
Corporate	-	-	8,982	-	-	-	-	-
Total Equatorial Guinea	475	29,165	8,982	-	-	-	-	-
Echira	-	-	-	1,194	-	-	-	-
Etame	-	-	-	1,618	-	-	-	-
Ezanga	-	-	-	2,176	-	-	-	-
Limande	-	-	-	2,285	-	-	-	-
M'Oba	-	-	-	61	-	-	-	-
Niungo	-	-	-	2,085	-	-	-	-
Tchatamba	-	-	-	6,927	-	-	-	-
Turnix	-	-	-	1,012	-	-	-	-
Corporate - Tullow Oil Gabon SA	-	-	-	217	-	30,000	-	-
Oba	-	-	-	770	-	-	-	-
Total Gabon	-	-	-	18,345	-	30,000	-	-
Jubilee	478	29,349	-	-	-	-	-	348
TEN	125	7,675	-	-	-	-	-	193
Company level	-	-	27,314	-	-	-	75	2,981
Total Ghana	603	37,024	27,314	-	-	-	75	3,522
Company level	-	-	-	-	-	-	28	119
Total Guinea	-	-	-	-	-	-	28	119
PSC B (Chinguetti EEA)	39	2,395	-	-	0	-	258	-
Corporate	-	-	-	-	-	-	94	-
Total Mauritania	39	2,395	-	-	-	-	352	-
South Omo	-	-	-	-	-	-	441	169
Corporate	-	-	-	-	-	-	-	-
Total Ethiopia	-	-	-	-	-	-	441	169
Corporate	-	-	9	-	-	-	614	-
Total Kenya	-	-	9	-	-	-	614	-
Block 3111	-	-	-	-	-	-	150	-
Total Madagascar	-	-	-	-	-	-	150	-
Corporate	-	-	1	-	-	-	-	-
Total Mozambique	-	-	1	-	-	-	-	-
Company level	-	-	-	-	-	-	105	-
Total Namibia	-	-	-	-	-	-	105	-
Corporate	-	-	31	-	-	-	-	-
Total South Africa	-	-	31	-	-	-	-	-
Corporate	-	-	36,059	-	-	-	158	-
Total Uganda	-	-	36,059	-	-	-	158	-
Corporate	-	-	(1,129)	-	-	-	-	-
Total Ireland	-	-	(1,129)	-	-	-	-	-
Walton Morant	-	-	-	-	-	-	133	-
Total Jamaica	-	-	-	-	-	-	133	-
Corporate	-	-	8,215	-	-	-	303	-
Total Netherlands	-	-	8,215	-	-	-	303	-
Corporate	-	-	(60,215)	-	-	-	34	-
Total Norway	-	-	(60,215)	-	-	-	34	-
Corporate	-	-	54	-	-	-	14	14
Total Pakistan	-	-	54	-	-	-	14	14
Schooner	-	-	-	-	-	-	448	-
Corporate	-	-	51,126	-	-	-	1,024	-
Total UK	-	-	51,126	-	-	-	1,472	-
TOTAL	1,284	81,115	70,447	18,345	-	30,000	3,879	3,824

*Where production entitlement is paid in barrels this has been multiplied by the Group's 2016 average realised oil price of $61.4/bbl.

Disclosure by government

	Production entitlements	Production entitlements*	Income taxes	Royalties (cash only)	Dividends	Bonus payments	Licence fee's	Infrastructure improvement payments
Licence / Company level	bbls	$'000	$'000	$'000	$'000	$'000	$'000	$'000
Republic of Congo, Ministere des Hydrocarbures	167	10,254	-	-	-	-	-	-
Total Congo	167	10,254	-	-	-	-	-	-
The Republic of Cote d'Ivoire, Ministry of Mines and Petroleum Resources	-	2,277	-	-	-	-	-	-
Total Cote d'Ivoire	-	2,277	-	-	-	-	-	-
Republic of Equatorial Guinea, Ministry of Mines, Industry and Energy	475	29,165	-	-	-	-	-	-
Republica de Guinea Ecuatorial, Ministeria de Hacienda y Presupuestas	-	-	8,982	-	-	-	-	-
Total Equatorial Guinea	475	29,165	8,982	-	-	-	-	-
Gabonese Public Treasury - Ministry of Finance	-	-	-	18,345	-	30,000	-	-
Total Gabon	-	-	-	18,345	-	30,000	-	-
Ghana National Petroleum Corporation	603	37,024	-	-	-	-	-	-
Ghana Revenue Authority	-	-	27,314	-	-	-	75	-
Ghana Health Service and Ghana Education Service	-	-	-	-	-	-	-	3,522
Total Ghana	603	37,024	27,314	-	-	-	75	3,522
Minestere des mines et de la geologie	-	-	-	-	-	-	28	-
OFFICE GUINEEN DE RECHERCHE ET DE PROMOTION PETROLIERE	-	-	-	-	-	-	-	119
Total Guinea	-	-	-	-	-	-	28	119
MINISTRY OF ENERGY AND PETROLEUM	39	2,395	-	-	-	-	-	-
Mauritanian Finance Ministry & Direction of Environmental Commission	-	-	-	-	-	-	352	-
Total Mauritania	39	2,395	-	-	-	-	352	-
FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA, MINISTRY OF MINES, PETROLEUM & NATURAL GAS	-	-	-	-	-	-	441	-
Ethiopia - Payment made to 3rd party	-	-	-	-	-	-	-	169
Total Ethiopia	-	-	-	-	-	-	441	169
Kenya Revenue Authority	-	-	9	-	-	-	-	-
Ministry of Energy	-	-	-	-	-	-	614	-
Total Kenya	-	-	9	-	-	-	614	-
OMNIS	-	-	-	-	-	-	150	-
Total Madagascar	-	-	-	-	-	-	150	-
Ministério das Finanças	-	-	1	-	-	-	-	-
Total Mozambique	-	-	1	-	-	-	-	-
Ministerial Deposit Account	-	-	-	-	-	-	105	-
Total Namibia	-	-	-	-	-	-	105	-
South African Revenue Services	-	-	31	-	-	-	-	-
Total South Africa	-	-	31	-	-	-	-	-
Uganda Revenue Authority	-	-	36,059	-	-	-	-	-
Ministry of Energy and Minerals Development	-	-	-	-	-	-	158	-
Total Uganda	-	-	36,059	-	-	-	158	-
Revenue Commissioners	-	-	(1,129)	-	-	-	-	-
Total Ireland	-	-	(1,129)	-	-	-	-	-
Petroleum Corporation of Jamaica	-	-	-	-	-	-	133	-
Total Jamaica	-	-	-	-	-	-	133	-
Belastingdienst	-	-	8,215	-	-	-	303	-
Total Netherlands	-	-	8,215	-	-	-	303	-
Norwegian Petroleum Directorate	-	-	-	-	-	-	34	-
Norwegian Tax Administration.	-	-	(60,215)	-	-	-	-	-
Total Norway	-	-	(60,215)	-	-	-	34	-
Ministry of petroleum & natural resources	-	-	54	-	-	-	14	14
Total Pakistan	-	-	54	-	-	-	14	14
Oil & Gas Authority	-	-	-	-	-	-	1,472	-
Her Majesties Revenue and Customs	-	-	51,126	-	-	-	-	-
Total UK	-	-	51,126	-	-	-	1,472	-
TOTAL	1,284	81,115	70,447	18,345	-	30,000	3,879	3,824

*Where production entitlement is paid in barrels this has been multiplied by the Group's 2016 average realised oil price of $61.4/bbl.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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RNS metadata

Title: Report on payments to governments for 2016
Time: 08:00:05
Date: 30 Jun 2017
Category: Miscellaneous
ID: 6669J