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).

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.

03/12/2021