Tullow Oil is acquiring energy company, Nuon Exploration and Production (Nuon E&P), from Vattenfall Group. The independent oil & gas, exploration and production group will pay a total of about €300 million in cash for the acquisition.
The deal will boost Tullow’s North Sea business by adding a portfolio of 25 licenses of 30 producing fields, numerous development and exploration opportunities and ownership of key infrastructure. The transaction is scheduled to complete by July 2011.
Click here for the release from Tullow Oil.