Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    SweetCrudeReportsSweetCrudeReports
    Subscribe
    • Home
    • Oil
    • Gas
    • Power
    • Solid Minerals
    • Labour
    • Financing
    • Freight
    • Community Development
    • E-Editions
    SweetCrudeReportsSweetCrudeReports
    Home » Tullow continues sell-down

    Tullow continues sell-down

    October 13, 2014
    Share
    Facebook Twitter LinkedIn WhatsApp

    13 October 2014, News Wires – UK independent Tullow Oil has closed a deal to sell off its interest in two assets in the UK North Sea for a total of $75.6 million.

    UK independent Tullow Oil has closed a deal to sell off its interest in two assets in the UK North Sea for a total of $75.6 million.

    Tullow Oil sign

    The company has divested a 53.1% interest in the Schooner unit and 60% of its Ketch asset interest to Faroe Petroleum.

    After the deal is closed, Tullow will retain a 40% interest in the assets.

    As part of a wider asset sell down of assets, Tullow is marketing its southern North Sea gas assets in the UK, while in the Netherlands an agreement has been signed to sell off its interests in blocks L12/L16, Q4 and Q5 to Mercuria Energy for about $81.1 million.

    Tullow has also raised approximately $7.5 million by selling its stake in the Brage field off Norway to Wintershall.

    “These transactions, the sale of Tullow’s gas assets in Bangladesh, and the agreement to sell the Pakistan business, is aligned with the group’s strategy of active portfolio management and monetisation of assets,” said a Tullow statement.

    The company had a tough first half-year, with exploration write-offs totalling $415 million.

     

    – Upstream

    Related News

    Seplat Energy highlights the increasing role of indigenous companies

    NUPRC Boss rallies media support to deepen oil sector reforms

    Occidental Petroleum says Gulf of Mexico output hit by curtailments in Q2

    E-book
    Resilience Exhibition

    Latest News

    Seplat Energy highlights the increasing role of indigenous companies

    July 15, 2025

    NCDMB unveils Nigerian Content Fund Certificate, empowers 130 firms with $400m NCI Fund

    July 15, 2025

    NIMASA docks Deep Blue Vessel at Nigerdock for repairs

    July 15, 2025

    Shippers’ Council, NCS strengthen ties to boost trade facilitation

    July 15, 2025

    NUPRC Boss rallies media support to deepen oil sector reforms

    July 15, 2025
    Demo
    Facebook X (Twitter) Instagram
    • Opec Daily Basket
    • Oil
    • Power
    • Gas
    • Freight
    • Financing
    • Labour
    • Technology
    • Solid Mineral
    • Conferences/Seminars
    • Community Development
    • Nigerian Content Initiative
    • Niger-Delta Question
    • Insurance
    • Other News
    • Focus
    • Feedback
    • Hanging Out With Markson

    Subscribe for Updates

    Get the latest energy news from Sweetcrudereports.

    Please wait...
    Please enter all required fields Click to hide
    Correct invalid entries Click to hide
    © 2025 Sweetcrudereports.
    • About Us
    • Advertise with us
    • Privacy Policy

    Type above and press Enter to search. Press Esc to cancel.