Tullow to buy Nuon for €300m
Through buying the Amsterdam-headquartered company, Tullow will add a further 25 licences — including more than 30 producing fields — and numerous development and exploration opportunities to its North Sea asset base. Its gas production levels, in the area will increase by 9,000 barrels of oil equivalent per day (boepd) to around 23,000 boepd. It will also add reserves and resources of 28 million barrels of oil equivalent (mmboe).
Although chiefly linked with Africa, Tullow has long had a presence in the North Sea and views the area as one with significant long-term potential.
