Sector News

Tullow Oil sells off interest in two North Sea assets for $75million

October 10, 2014
News
Tullow Oil has completed a deal to sell off its interest in two North Sea assets, the company has confirmed
 
Faroe Petroleum acquired a 53.1% share of Tullow’s Schooner interest and 60% of its Ketch asset in the Southern North Sea for $75.6million.
 
Tullow will retain its remaining stake in the assets.
 
Elsewhere, the company has made an agreement to sell operated and non-operated block interests in the Netherlands to AU Energy BV, a subsidiary of Mercuria Energy Group for $81.1million.
 
The deals follow the July sale of its interests in the Brage filed in Norway to Wintershall for $7.5million.
 
By Niahm Burns
 
Source: Energy Voice

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