Tullow Oil has announced the completion of its acquisition of Perenco Investments (UK) Ltd's interests in the North Yorkshire gas fields. Its stake in the field is now 60 per cent, up from 13 per cent previously. Edinburgh Oil & Gas has the remaining 40 per cent. This followed the recent exercise of options.
Tullow is now the operator of the fields and is responsible for the operation and maintenance of the 40 MW Knapton power station. It said the latest acquisition is consistent with its global strategy of concentrating on the development of stable, long-term gas-to-power projects.
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