| 13.4°C Dublin

Tullow in expansion

TULLOW Oil has expanded its presence in the North Sea with the acquisition of interests in eight new licences.

The eight licences, four of which have Irish-founded Tullow as the designated operator, are located off Norway.

A total of 65 offshore licences were up for grabs. Norwegian authorities hope the interest will prolong production, after it saw its oil output fall to a 25-year low last year.