Tullow Oil Triumphs in $320M Tax Arbitration Against Ghana

• ICC Tribunal rules in favour of Tullow, shielding it from a hefty tax liability
• Ongoing disputes with Ghana Revenue Authority remain unresolved

Accra, Ghana – Tullow Oil Plc has secured a decisive victory in a $320 million arbitration case against Ghana, with the International Chamber of Commerce (ICC) Tribunal ruling that the Branch Profit Remittance Tax (BPRT) assessed by the Ghana Revenue Authority (GRA) does not apply to the company’s operations. The ruling not only clears Tullow Ghana Limited (TGL) of the contested liability but also ensures the tax will not affect its future activities under the Deepwater Tano and West Cape Three Points Petroleum Agreements, which govern its flagship Jubilee and TEN oil fields.