Uganda: Heritage Oil to sell two Uganda oil fields

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Flag of Uganda

The exploration company Heritage Oil has agreed to sell its stakes in two Uganda oil fields to Italy’s Eni for $1.5bn, reports BBC. Heritage will sell its 50% share in the fields for $1.35bn in cash and a deferred payment of $150m. The deal, which requires approval from Ugandan authorities, is expected to be completed in early 2010.

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