Tullow sale of eight licences set to conclude

Tullow Oil should be rid of much of its non-core gas assets by the middle of this year, with the sale of its eight Asian gas licences in Pakistan and Bangladesh finally set to conclude before the end of June.

At that stage, the company should also be receiving bid interests regarding its North Sea gas assets, which are up for sale, with those expected to be fully disposed of by the end of the year.

The Irish-founded company is using 2013 as a return to basics, of sorts, as it seeks to focus on light oil exploration.