Eni withdrawal paves way for Tullow control of Uganda assets

ITALIAN energy giant Eni has withdrawn its interest in two of Heritage Oil’s exploration assets in Uganda – effectively confirming Tullow Oil’s takeover of them.

Canadian company Heritage has been looking to sell its 50% shares in Blocks 1 and 3 of the Kasamene oil and gas field in the Lake Albert Rift Basin since November, when Eni offered $1.5bn (€1.1bn) for the assets.

Tullow owns 100% of Block 2 at Kasamene and the remaining 50% of the other two blocks.