Tullow Oil complete Hewett field takeover

Tullow Oil has announced its unit Tullow Oil UK has completed taking over the offshore Hewett gas field complex and associated processing terminal on the East Anglian coast.

Chief Executive of Tullow Oil, Aidan Heavey, has said this move will allow for cost-saving and operating synergies.

He also said that it is an objective of the company to extend the producing life of this field.

Tullow had already acquired an 18.97% stake from ConocoPhillips Petroleum UK Ltd, increasing its interest to 38.82%.