Tullow Oil has announced to the Stock Exchange that it has agreed to acquire Norwegian exploration company, Spring Energy Norway in a deal worth over $372 million.
The exploration company says it intends to dispose of its exploration, development and production assets in the UK and Dutch Southern North Sea ("SNS") gas basin.
It also says the Norwegian oil exploration company holds 28 offshore licences across Norway's continental shelf covering just over 18,000 sq km.
