Exploration company Tullow Oil has expanded its presence in the North Sea by acquiring 20% stakes in a number of blocks in two separate deals.
Tullow has acquired a 20% stake in Block 44/17b, where it is planned to drill a well in the first half of next year, from GDF Britain.
It has also bought a 20% stake in five blocks and part blocks off the Lincolnshire coast from Conoco UK. Both deals are subject to British government approval.
The company already has a number of gas producing assets in the North Sea.
