Naalakkersuisut, Greenland’s Government, has approved Maersk Oil’s farm-out of a 40% interest in its licence covering block 9 (Tooq) in Baffin Bay, offshore Greenland, to Tullow Oil.
Maersk remains operator and now holds a 47.5% interest in the licence, with Greenland’s state oil company, Nunaoil, retaining its 12.5%.