Tullow expands its oil interests

TULLOW Oil, which is engaged in both oil exploration and production, has announced two significant developments for the group yesterday.

The first is the announcement by French oil giant, Total, of its acquisition of a 25% interest in the Guyane Maritime Permit from Hardman Petroleum France SAS, an affiliate of Tullow.

The permit, located approximately 150km off the coast of French Guiana, covers an area of about 32,000sq km in water depths ranging from 2,000 to 3,000 metres.