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Posts on ‘January 18th, 2012’

Shell, Tullow Oil to form exploration venture

Wed Jan 18, 2012 2:47am EST

* JV to focus on “transformational” plays in Atlantic

* Comes as big oil groups boost exploration spend

By Tom Bergin

LONDON, Jan 18 (Reuters) – Royal Dutch Shell is teaming up with independent explorer Tullow Oil to explore for oil in the Atlantic, in a sign the biggest oil companies accept dramatic measures are needed to turn around their weak record on finding oil.

Tullow said on Wednesday the planned partnership would focus on making “transformational” discoveries in “underexplored frontier basins”. read more

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