Seismic reflections : Move to mitigate UK North Sea tax change?

Published on 3 June 2011

Tullow Oil’s recently announced agreement to acquire a portfolio of assets offshore The Netherlands makes sense as it fits with the company’s existing Dutch and UK Southern North Sea assets. But what is the underlying reason for the company paying a premium for these resources, and does it serve as a pointer towards a more general shift away from the UK North Sea in the light of the recent tax hikes?

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