Gulf Oil and Gas accountACCOUNT

Tullow Enters Greenland Farm-In with Maersk Oil

Source: www.gulfoilandgas.com 10/15/2012, Location: Not categorized

Tullow Oil plc (Tullow) announces that Naalakkersuisut, Greenland’s Government, has approved an agreement with Maersk Oil for Tullow to take a non-operated 40 per cent equity position in Block 9 (Tooq licence), Baffin Bay, north-western Greenland. Maersk Oil will continue to act as operator of the licence with a 47.5 per cent interest and Nunaoil, Greenland’s state oil company, will hold a 12.5 per cent interest.

The Tooq licence covers an area of 11,802 square kilometres and the work programme for 2012-2014 includes the acquisition and processing of 3D seismic data. Seismic acquisition of some 1,850 square kilometers has been completed following the submission and approval of a full Environmental Impact Assessment and the results are being evaluated.

The decision whether or not to enter the next phase and drill an exploration well on the Tooq licence will be made after the seismic evaluation has been completed.

Angus McCoss, Exploration Director of Tullow, commented today:

“We are very pleased to be partnering with Maersk Oil and Nunaoil in this unexplored and highly prospective province. Our complementary skills and expertise will allow us to evaluate fully the potential of Block 9 in the initial seismic phase.”

Acquisitions and Divestitures News in Greenland >>

United States >>  6/11/2019 - Equilon Enterprises LLC d/b/a Shell Oil Products US (Shell), a subsidiary of Royal Dutch Shell plc announced it has reached an agreement for the sale ...
Kazakhstan >>  6/9/2019 - At the 23rd St. Petersburg International Economic Forum, President of LUKOIL Vagit Alekperov and Chairman of the Management Board of KazMunayGaz Alik ...

Russia >>  6/9/2019 - Gazprom and OMV signed at the St. Petersburg International Economic Forum 2019 the Contract on the amendments to the Basic Agreement on Asset Sale. Th...
Norway >>  6/7/2019 - PGNiG Upstream Norway will acquire 22.2 percent of shares in King Lear field – PL146 and PL333 licenses – from Total E&P Norge. The volume of producti...

Russia >>  6/7/2019 - As part of today’s Saint-Petersburg International Economic Forum, PAO NOVATEK has signed the Share Purchase Agreement (“Agreement”) with CNOOC Ltd. (...
Congo >>  6/6/2019 - New Age (African Global Energy) Limited announces that its subsidiary New Age M12 Holdings Limited has signed a Sale and Purchase Agreement (‘SPA’) wi...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Greenland Oil & Gas 1 >> 

More News

Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.