Tullow Oil to sell exploration, development licences in Norway

The exploration group plans to focus on its core portfolio in Africa and South America

23rd August, 2016
Tullow Oil chief executive Aidan Heavey

Tullow Oil is to sell its exploration and development licences in Norway in order to prioritise its investment in its core portfolio in Africa and South America, reports have said.

The exploration group has 34 licenses in Norway and planned to drill four exploration wells this year. Its most recent offshore Norway well failed to encounter any hydrocarbons at the Rome Prospect in July.

(Additional reporting by Bloomberg...

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