Africa Oil Completes Ethiopia Farm Out Deal with Maersk Oil

Source: www.gulfoilandgas.com 2/23/2016, Location: Africa

Africa Oil Corp has completed the previously announced (November 9, 2015) farmout with Maersk Olie og Gas A/S ("Maersk Oil") related to the South Omo and Rift Basin Blocks in Ethiopia.

At completion of the Ethiopian farmout, Africa Oil received a payment of US$12.8 million from Maersk Oil.

The resulting interests in each of Africa Oil's Ethiopian blocks are as follows:

Ethiopia Rift Basin Africa Oil - 25* Maersk Oil - 25% Marathon - 50%

Ethiopia South Omo Africa Oil - 15% Maersk Oil - 15% Tullow - 50%* Marathon - 20%

Keith Hill, Africa Oil's CEO commented, "We are very pleased to have completed our farmout to Maersk Oil. We feel Maersk Oil will be an excellent partner in terms of technical and financial strength.

For more information about related Opportunities and Key Players visit East Africa Projects


Suriname >>  6/19/2021 - A consortium including Qatar Petroleum has been awarded two offshore blocks in Suriname, under Production Sharing Contracts as part of the recent Suri...
Australia >>  6/18/2021 - Baron Oil Plc, the AIM-quoted oil and gas exploration company, is pleased to announce the alignment of interests in relation to the Chuditch PSC, by w...

Canada >>  6/18/2021 - Spruce Ridge Resources Ltd. has an agreement to purchase certain mineral leases with petroleum and natural gas rights, plus oil and gas wells, pipelin...
Romania >>  6/18/2021 - On June 17, 2021 S.N.G.N. Romgaz S.A. and ExxonMobil Exploration and Production Romania Holdings Ltd. signed an Exclusivity Agreement by which the se...

Suriname >>  6/18/2021 - Staatsolie Maatschappij Suriname N.V. (Staatsolie) hereby announces that after evaluation of all received bids in the SHO Bid Round 2020/2021, the fol...
Bolivia >>  6/17/2021 - Petrobras, following up on the release disclosed on 05/28/2021, informs that its wholly-owned subsidiary Petrobras Bolivia S.A. (PEB) was notified of ...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.