On 20 February 2026, Tullow Oil plc said its wholly owned subsidiary Tullow Ghana Limited (TGL), acting for itself and its joint venture partners, signed a Sale and Purchase Agreement with T.E.N. Ghana MV25 BV to acquire the floating production, storage and offloading vessel Prof. John Evans Atta Mills. The gross consideration is $205 million, with c.$125.6 million net to Tullow Oil plc, payable on completion at the end of the first quarter of 2027.

The FPSO is the production facility for the TEN Fields on the Deep Water Tano Block, offshore Ghana. Following completion, Tullow Oil plc said it intends to maximise operational synergies with the adjacent Jubilee Field and drive further cost efficiencies to underpin the longer-term development of the TEN and Jubilee fields.

TGL, as operator of the TEN fields, signed the agreement on behalf of itself and its JV partners. Tullow Oil plc said the transaction aligns with its strategy to optimise production, reduce fixed costs through removing the annual lease cost, and realise operating cost efficiencies.

Completion remains subject to the satisfaction of conditions precedent and relevant regulatory approvals. Tullow Oil plc said its net consideration—equivalent to approximately one year of current net lease cost—is expected to be funded by in-year cash flow from TEN and will be paid upon completion at the end of the first quarter of 2027.