Tullow Oil plc (TLW.L) said it has concluded the acquisition of Spring Energy Norway AS, that was prior announced on December 11, 2012. Roar Tessem, Spring's chief executive, would become the Managing Director of Tullow's Norwegian companies and would be in charge of Tullow's assets offshore Norway and Greenland.
Last week, Spring was granted 13 licences, of which 4 are operated, in Norway's very competitive 2012 Awards in Predefined Areas licensing round, with the new licences highly complementary and mostly adjacent to current acreage held. The new acreage is situated in all three areas of the highly prospective Norwegian Continental Shelf - North Sea, Norwegian Sea and the Barents Sea.
Tullow and Spring independently submitted applications in Norway's 22nd licencing round, the results of which are likely to be unveiled in the second quarter of 2013 and cover licences in less mature areas of Norway's offshore acreage.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.