Christophe de Margerie, CEO of Total, was reported by Reuters said: "we must be careful not to enter into licences with a too short life so we are renegotiating begin to pay us... just to make sure we can continue with the exploration necessary to develop the fields". ""
Tullow has refused to comment on the remarks of Margerie, but close to the company said they believe that Mr. de Margerie meant that total is renegotiating the agreement with the Ugandan Government to obtain an extension of the licence after a tax dispute held its progression.
Tullow Oil is planning a project (£ 6bn) billion $ with France, largest oil Explorer Total and sustained group State Chinese CNOOC to develop oil reserves of the country of the East African reserves in the basin of Lake Albert and producer of the country's oil Tower in a top-50.
However, the British oil company expects approval for Uganda before sell stakes in its blocks of oil total and Chinese group CNOOC.
Energy & Utilities and positions vacant Oil & Gas jobs Telegraph
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