LONDON (dpa-AFX) - Tullow Oil plc (TLW.L) announced that Naalakkersuisut, Greenland's Government, has approved an agreement with Maersk Oil for Tullow to take a non-operated 40 percent equity position in Block 9, Baffin Bay, north-western Greenland. Maersk Oil will continue to act as operator of the licence with a 47.5 percent interest and Nunaoil, Greenland's state oil company, will hold a 12.5 percent interest.
The Tooq licence covers an area of 11,802 square kilometres and the work programme for 2012-2014 includes the acquisition and processing of 3D seismic data.
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