Tullow Oil sells interest in African field for €293m

Tullow Oil has sold its 11% interest in the onshore M'Boundi field in Congo to the Korea National Oil Company (KNOC) for $435m (€293m).

The deal, which will involve the sale of Tullow's subsidiary company Tullow Congo Limited, is subject to approval from the government of Congo and has an effective date of December 1, 2007.