November 29, 2018 / 1:37 PM / 6 months ago

Tullow Oil sees ownership for Kenya pipeline by Q3 2019

LONDON, Nov 29 (Reuters) - Tullow Oil Chief Executive Paul McDade expects to have settled commercial and ownership terms for the heated underground pipeline bringing oil from Kenya’s onshore fields to the port of Lamu in the third quarter of next year, he said on Thursday.

The project, which is still in the engineering and environmental impact assessment phase, would need to have gone through tendering and the contract awarded first, while discussions with the government and financiers continue about its ownership and financing structure.

McDade said that if the company was to make a final investment decision by the end of next year, “I would think third quarter next year we would be coming out with definitions”.

Reporting By Shadia Nasralla; Editing by Jan Harvey

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