Tullow Oil Gabon, a subsidiary of the UK-based oil and gas company Tullow Oil, has received official approval from the Gabonese government to extend several of its oil and gas licences until 2046. This strategic move reinforces the significance of the Tchatamba facilities as a central hub for Tullow's operations.

Tullow highlights that these licence extensions not only enhance the value of its resource base but also contribute around 5 million barrels of net 2P reserves. This addition ensures a remarkable 100 percent 2P reserves replacement rate in Gabon for this year.

Aligned with its overarching strategy to prioritize high-return production assets in Africa and optimize its non-operated portfolio, Tullow emphasizes that these licence extensions reflect the future potential of reserves and resources across its Gabonese assets. The longevity and importance of the Tchatamba facilities as a core hub are underscored by these extensions.

To strategically position the Tchatamba facilities and streamline equity ownership across crucial Gabonese fields, Tullow executed a cashless asset swap with Perenco in April 2023. This transaction involves the exchange of participating interests between both companies in specific licences in Gabon. The finalization of the transfer is anticipated by the close of 2023.

This agreement entails the assignment and transfer of Tullow Gabon’s existing percentage of participating interests in the Limande, Turnix, Moba, and Oba assets, along with a portion of its existing percentage in the Simba assets, to Perenco. In return, Tullow will receive the assignment and transfer of Perenco’s stake in the Kowe (Tchatamba) and DE8 assets. As a result, Tullow Gabon's post-completion holdings will amount to 40 percent.

The Tchatamba complex encompasses three fields: Tchatamba Marin, Tchatamba South, and Tchatamba West. Situated about 30 kilometers offshore Gabon within water depths of roughly 50 meters, these fields are entirely covered by the Kowe licence. The fields are further divided into four primary producing reservoirs: Anguille, Azile, Cap Lopez, and Madiela.

Production from the Tchatamba Complex commenced in 1998 with Tchatamba Marin, followed by South in 1999 and West in 2000. Presently, the fields host a total of 19 development wells.

The field's development includes two mobile offshore production units (MOPU) at Marin, a processing platform at South interconnected with Marin, and a wellhead platform at West linked back to Marin. Oil is transported via a pipeline to the shore and then onto the FSO Fernan Vaz for export."