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.

Tullow Oil plc published this content on 23 September 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 23 September 2016 06:03:06 UTC.

Original documenthttp://www.tullowoil.com/media/press-releases/jubilee-turret-insurance-update

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