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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.


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