Tullow Oil PLC Jubilee Turret - Insurance Update (6142K)
September 23 2016 - 2:00AM
UK Regulatory
TIDMTLW
RNS Number : 6142K
Tullow Oil PLC
23 September 2016
News Release
Jubilee Turret - Insurance Update
23 September 2016 - Tullow Oil is pleased to announce that Hull
& Machinery insurance cover has been confirmed for the FPSO
Kwame Nkrumah by its reinsurers following the failure of the turret
bearing earlier this year. The Hull & Machinery policy, which
is procured on behalf of the Joint Venture, covers relevant
operating and capital costs associated with both current operating
procedures at the FPSO and the long-term solution. As operator of
the Jubilee field, Tullow will now work closely with the loss
adjusters and reinsurers to establish an efficient payments
schedule as remedial work continues. Tullow also continues to work
with its Business Interruption reinsurers on confirming cover for
loss of production and revenue caused by the turret bearing
failure.
FOR FURTHER INFORMATION CONTACT:
Tullow Oil Murray Consultants
plc (+353 1
(+44 20 498 0300)
3249 9000) Pat Walsh
Chris Perry Joe Heron
George Cazenove
Nicola Rogers
================= ===================
Notes to Editors
Tullow Oil plc
Tullow is a leading independent oil & gas, exploration and
production group, quoted on the London, Irish and Ghanaian stock
exchanges (symbol: TLW). The Group has interests in over 120
exploration and production licences across 21 countries which are
managed as three business delivery teams: West Africa, East Africa
and New Ventures.
Follow Tullow on:
Twitter: www.twitter.com/TullowOilplc YouTube:
www.youtube.com/TullowOilplc
Facebook: www.facebook.com/TullowOilplc LinkedIn: www.linkedin.com/company/Tullow-Oil
Website: www.tullowoil.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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