Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

Tullow says talks resolve industrial action at Kenya sites

Published 12/10/2014, 10:15
Updated 12/10/2014, 10:20
Tullow says talks resolve industrial action at Kenya sites

NAIROBI (Reuters) - London-listed Tullow Oil (L:TLW) said talks to resolve "limited industrial action" at sites in north Kenya had been successfully concluded and the staff affected were returning to work.

Independent oil and gas explorer Tullow and its partner, Africa Oil (TO:AOI), have struck commercially viable deposits of oil in Kenya's Lokichar basin in Turkana, where they have discovered resources of about 600 million barrels.

Tullow said on Friday it was facing industrial action at drilling sites, but did not given details of how many sites were affected or whether any work had been interrupted. A local leader said the company had evacuated some workers.

"Negotiations between the county and central government representatives, workers' representatives, Tullow and its supplier regarding the limited industrial action in northern Kenya have concluded successfully," Tullow said.

"The small number of workers affected are now returning to work," it said in a brief statement sent to Reuters late on Saturday, without giving further details.

Big oil and gas finds along Africa's east coast are propelling an exploration boom, but impoverished local communities say they are not getting any of the benefits.

Tullow suspended operations in the area for about two weeks in October and November last year after demonstrators from the poor region marched on Tullow sites demanding more jobs and other benefits. Work resumed after talks with local leaders.

(Writing by Edmund Blair, editing by John Stonestreet)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.