Gulf Energy Limited, the company that acquired Tullow Oil Plc’s assets through its subsidiary Auron Energy E&P Limited, has revealed plans to commence production next year.
The move follows the completion of the $120 million (KES 15.5 billion) acquisition of Tullow Oil Plc’s assets by Gulf Energy, after the satisfaction of all conditions precedent under the Sale and Purchase Agreement (SPA).
Tullow Oil Plc received the first tranche of $40 million (KES 5.17 billion) from Gulf Energy Limited in September. On November 10, 2025, the Ministry of Energy Cabinet Secretary, Opiyo Wandayi, approved the Field Development Plan for the Turkana Oil Project. The plan outlines the company’s strategy for developing, producing, and managing the oil field, including details on field locations, costs, infrastructure plans, environmental and community impact, and regulatory compliance.
Field Development Plan approval triggers second tranche payment by Gulf Energy
The approval of the field development plan could pave the way for the payment of the second tranche according to the Sales and Purchase Agreement announced in July 2025. The upstream oil company was set to receive the second tranche of $40 million after approval of the Field Development Plan, or on June 30, 2026.
The Turkana Oil Project is now set to be tabled in Parliament within one month.
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