Uganda says it has reached deal on tax dispute, paves way for Tullow stake sale


Workers are seen at an oil exploration site in Bulisa district approximately 244km (152 miles) North-West of Kampala January 20, 2012. REUTERS/Stringer

KAMPALA (Reuters) – Uganda said on Monday it had reached a deal with international oil firms on a tax dispute, clearing the way for Britain’s Tullow Oil to revive plans to sell a stake in its assets and allow the firms to move to a final investment decision.

Hanns Kyazze, a communications specialist at the ministry of energy and mineral development, said the government had offered the companies a deal to end the dispute.

“They (firms) have now accepted that proposal and are moving on to ensure that package of proposed terms is operationalised,” Kyazze told Reuters.

Reporting by Elias Biryabarema; Editing by Duncan Miriri and Toby Chopra



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