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Deals to boost both exploration and production
Thursday 22 Dec 2016 Author: Tom Sieber

Oil major BP (BP.) is bolstering its production base and boosting exposure to exploration. It is paying circa $2bn in shares for 10% of Abu Dhabi’s ADCO onshore oil concession. A further $1bn will get 62% of exploration projects owned by Kosmos Energy (KOS:NYSE). Kosmos was Tullow Oil’s (TLW) partner in the massive Jubilee discovery offshore Ghana in 2007. (TS)

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