Tullow Oil has received judgment in its favour in a case against Heritage Oil in a London court.
The three-judge panel upheld a lower court’s ruling on Tullow Oil’s indemnity claims against Heritage with regard to capital gains tax payment worth 900 billion shillings that Tullow had made on Heritage’s behalf to the Uganda Revenue Authority.
The case stemmed from Tullow’s purchase of interests in two blocks in the Lake Albert oil basin in 2010.
In June 2013, Tullow succeeded in the High Court in London with its indemnity claims against Heritage over the same matter.
Tullow later received $345.8 million from Heritage in satisfaction of this High Court judgment.