Tullow Oil: Norway sales

Tullow Oil has decided to exit the Norwegian Continental Shelf, selling its working interest in eight licences to Aker BP, and another four to Statoil. The Statoil transaction includes the Wisting discovery in the Barents Sea. BP Norge and Det Norske Oljeselskap completed a merger in September, creating Aker BP as a new independent company. Aker BP said the acquisition, which includes 15% in the Oda (previously known as Butch) discovery in PL 405, strengthens its position in core areas surrounding the Ula, North of Alvheim, Skarv and Krafla/Askja areas.