Tullow Oil Buys Land in Ivory Coast for Oil Exploration
October 12 2017 - 2:52AM
Dow Jones News
By Carlo Martuscelli
Tullow Oil PLC (TLW.LN) on Thursday said that it has acquired a
90% stake in four onshore blocks in Ivory Coast, with the remaining
10% held by the country's oil-and-gas company, Petroci.
The four blocks comprise an area of 5,035 square kilometers
(1,944 suare miles) on the Ivorian coastline and are located in a
proven oil system, as shown by multiple oil seeps and past
production, Tullow said.
The company added that it will begin a survey in early 2018 to
assess the licenses' potential.
The acquisition will add to the company's existing exploration
portfolio, Tullow said.
Write to Carlo Martuscelli at carlo.martuscelli@dowjones.com
(END) Dow Jones Newswires
October 12, 2017 02:37 ET (06:37 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
Tullow Oil (LSE:TLW)
Historical Stock Chart
From Aug 2024 to Sep 2024
Tullow Oil (LSE:TLW)
Historical Stock Chart
From Sep 2023 to Sep 2024