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Norway

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About Tullow in Norway

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In February 2012, Tullow prequalified as an oil and gas operator offshore Norway. In December 2012, the Group announced the planned acquisition of Spring Energy Norway AS, a Norwegian exploration company, for $372.3 million. The deal, which was completed in January 2013, provided Tullow with access to 28 offshore licences across Norway’s continental shelf in the North, Norwegian and Barents Seas covering over 18,000 sq km.  

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current activities

Divestment of Norwegian assets

Tullow Oil has taken the decision to divest its Norway business in order to focus on its core Africa and South America assets. In the second half of 2016, the divestment of the Norway business has progressed well, with the sale of four licences, including the Wisting discoveries, to Statoil and eight licences, which include the Oda asset, to Aker BP ASA, expected to be complete by the end of year. Tullow expects to conclude the disposal of its remaining Norwegian assets by the first half of 2017. 

 

 

Page last updated: 22 February 2016