Tullow has also increased its interest in these assets from 19.85% to 38.82% by acquiring the 18.97% interest held by ConocoPhillips Petroleum U.K. Limited, the former Operator.
Tullow first announced these transactions on June 16, 2003 with a target completion date of October 1st, which has now been achieved.
Aidan Heavey, Chief Executive of Tullow Oil, commented: "Becoming Operator of the Hewett/Bacton North Sea gas complex will enable Tullow to deliver major operational cost savings and operating synergies. It is also our objective, in alliance with Petrofac, to significantly extend the producing life of the Hewett field."
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