Tullow agrees exploration licence in South America

Tullow Oil plc has announced that it has agreed a new deepwater exploration licence with Suriname's state oil company Staatsolie for an area off the coast of the South American country

The signing means both parties can finalise a deal to share the oil that they hope will exist there and enhance Tullow’s portfolio of high-impact exploration acreage in the emerging Suriname-Guyana Basin.