| Jubilee Turret – Insurance Update | |
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Published on: 23 September 2016
Tullow Oil is pleased to announce that Hull & Machinery insurance cover has been confirmed for the FPSO Kwame Nkrumah by its reinsurers following the failure of the turret bearing earlier this year.
The Hull & Machinery policy, which is procured on behalf of the Joint Venture, covers relevant operating and capital costs associated with both current operating procedures at the FPSO and the long-term solution. As operator of the Jubilee field, Tullow will now work closely with the loss adjusters and reinsurers to establish an efficient payments schedule as remedial work continues. Tullow also continues to work with its Business Interruption reinsurers on confirming cover for loss of production and revenue caused by the turret bearing failure.
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Tullow Oil Plc
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EXPLORATION STAGE |
CODE : TLW.L |
ISIN : GB0001500809 |
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Tullow Oil is a oil exploration company based in United kingdom. Its main exploration property is BLOCKS I AND II - ALBERT BASIN in Congo Dem. Rep. of. Tullow Oil is listed in United Kingdom. Its market capitalisation is GBX 34.7 billions as of today (US$ 41.4 billions, € 37.9 billions). Its stock quote reached its highest recent level on October 18, 2013 at GBX 991.68, and its lowest recent point on January 08, 2021 at GBX 0.29. Tullow Oil has 1 386 600 000 shares outstanding. |