Tullow India, a subsidiary of Tullow Oil, has acquired the oil and gas interests of Larsen & Toubro, a private Indian company for an undisclosed sum.

Under the deal, Larsen & Toubro will acquire a 10 per cent shareholding in Tullow India, with an option to increase this to 25 per cent. This option expires 90 days after the drilling of the first well.

Tullow India and Larsen & Toubro have agreed to investigate opportunities for co-operation in upstream and downstream projects in India on a joint-venture basis.