Greenland issues offshore license extension

Offshore staff

LONDON – Tullow Oil says the Greenland authorities have granted a two-year extension to offshore block 9 (Tooq license), in which the company has a 40% interest.

3D seismic has led to identification of a potentially material oil prospect. The extension means a drill-or-drop decision for the license has now been deferred until December 2016.

Offshore Norway, Tullow will participate in wells this year on the Bjaaland structure in the area ofOMV’s Wisting oil discovery area in the Barents Sea, and on Hagar and Zumba (Tullow-operated) in the Norwegian Sea.

02/12/2015