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

    Collaboration is key to unlocking Nigeria’s marginal field potential

    Oil prices steady as investors weigh trade war impact

    Ex-Pioneer CEO cannot challenge order barring him from Exxon board, FTC says

    E-book
    Resilience Exhibition

    Latest News

    Court dismisses N5.74bn Macobarb’s suit against NLNG

    July 16, 2025

    Collaboration is key to unlocking Nigeria’s marginal field potential

    July 16, 2025

    ANPG President to outline Angola’s $60bn investment strategy at AOG 2025

    July 16, 2025

    West African development bank expects regional growth to edge lower

    July 16, 2025

    Oil prices steady as investors weigh trade war impact

    July 16, 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.