Tullow is acquiring Malaysian firm Petronas’ operator’s stake in the C-6 block taking its share to 88%. This follows last year’s purchase of Australian independent Roc Oil’s minority stakes in C-6 and six other Mauritanian offshore blocks in a deal which added 112mn barrels to Tullow’s contingent reserves.
Tullow – a big player in Africa, operating Ghana’s 110,000 b/d Jubilee field – now operates six key Mauritanian offshore blocks and has majority stakes in two further blocks operated by UK-based Dana Petroleum (a subsidy of Korean state firm KNOC) and 22% of the Petronas-operated Chinguetti field. (CONTINUED - 808 WORDS)
