Kistos strikes deal for Tulip North Sea subsidiary
March 12, 2021
Tulip Oil Holding has agreed to sell Tulip Oil Netherlands to Kistos, under a transaction that could total EUR383 million ($457 million).
(Courtesy Tulip Oil)
Offshore staff
THE HAGUE, the Netherlands – Tulip Oil Holding has agreed to sell Tulip Oil Netherlands to Kistos, under a transaction that could total EUR383 million ($457 million).
Kistos is an investment company, listed on London’s AIM market, targeting acquisition and management of companies in the energy sector.
On completion, Tulip Oil will become a shareholder and debtholder of Kistos.
The Dutch subsidiary operates the producing the offshore Q-10A gas field and the Q-10B, Q-11B, and M10/M11 discoveries in the Dutch North Sea, with interests in other exploration and appraisal projects in the sector.
