Tullow Oil purchases Ghanian FPSO, extends deal with government

London-listed, West Africa-focused oil and gas company Tullow Oil has entered refinancing deals with Glencore and owners of about two-thirds of its $1.3 billion senior secured notes, extending debt maturities by over two years to November 2028.

The company has also struck a deal with the Ghana Government for the extension of its West Cape Three Points and Deep Water Tano Petroleum agreements, it said on Friday.

The company said the refinancing deal stabilises its capital structure and aligns it with expected 2026 operational catalysts and potential reserve additions, easing pressures on one of London's most debt-laden independent oil producers.