Tullow Enters Dutch North Sea

摘要

Anglo-Irish independent Tullow Oil is to buy Dutch firm Nuon Exploration and Production from Swedish utility Vattenfall in a cash deal worth around ?300 million ($422 million), subject to net working capital and other adjustments. The deal is expected to close by July. Tullow is to acquire Nuon's interests in 25 licenses, including 35 producing gas fields in the Dutch sector of the North Sea, as well as interests in the Den Helder plant and pipeline and other associated infrastructure. Nuon reported a pre-tax profit on continuing activities of ?16.8 million in 2010, with gross assets of ?520 million.