Tullow completes gas field acquisition

OIL and gas exploration company Tullow Oil said yesterday that it had completed the acquisition of oil giants Esso and Shell’s interests in the Schooner and Ketch gas fields in the North Sea.

The £200 million (€290 million) deal was first announced before Christmas and will see Tullow take over the role of operator of both fields. Schooner has been in operation since 1996 and Ketch since 1999.