UK-listed Tullow Oil said on Monday it has agreed a deal in Mauritania with the government and its partners that will enable it to push on with the appraisal and development of three offshore discoveries and explore new acreage. Areas A and B will be merged into a new, 10,725 sq km exploration area, C-10, that Tullow will operate with 59.15%. This new area includes the Banda, Tevet and Tiof discoveries, which have been ring-fenced under their original production-sharing contract terms, with extensions of up to 18 months granted to allow appraisal and development to be completed. Malaysian state Petronas will continue to operate the Chinguetti field.
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