Gulf Energy has agreed a $120 million (Sh15.56 billion) deal to acquire the assets of Tullow Kenya, setting the stage for the British firm’s exit from Kenya after 13 years in the country.
The two firms disclosed the deal on Tuesday morning, which will see Gulf Energy make three payments of $40 million (Sh5.18 billion) each, the first on approval of Tullow’s Field Development Plan (FDP), but no later than June next year.
