Jan. 12 (Bloomberg) -- Uganda expects to approve Tullow Oil Plc’s $2.9 billion sale of its prospects in the East African nation to France’s Total SA and Cnooc Ltd. “shortly” after resolving most of the issues blocking the deal, Energy Minister Irene Muloni said.
“The conclusion is coming to an end soon,” Muloni told reporters today in Kampala, the capital. Obstacles to an agreement have “to a great extent been addressed,” she said.
In November, Peter Lokeris, Uganda’s minister of state for mineral development, said he expected the deal to be approved before the end of January.
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