Comprehensive  Ghana Oil and Gas news, information, updates, analysis


News in Brief

Africa Oil, Maersk Oil ink Ethiopia farmout deal

1.8643521Africa Oil Corp. (TSX:AOI)(OMX:AOI) has announced that it has completed the previously announced farmout deal with Maersk Olie og Gas A/S 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, a statement said.

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 is quoted by the statement as saying: “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.

Africa Oil Corp. is a Canadian oil and gas company with assets in Kenya and Ethiopia. The Company is listed on the Toronto Stock Exchange and on Nasdaq Stockholm under the symbol “AOI”.

source:http://classfmonline.com/1.8710886

Profile photo of Editor
Follow Us

Editor

Reporting Oil and Gas project was launched on 4th June 2009atTakoradi, Western Region, Ghana by Penplusbytes (PPB – www.penplusbytes.org) with the vision of providing a one stop online information and knowledge about Ghana’s oil and gas sector
Profile photo of Editor
Follow Us

Share this article

Leave a reply

Personality of the Month
  • Prof. Thomas Mba Akabzaa Chief Director of Ministry of Petroleum          …
Follow Us Online
Join the Discussions

Summary: Revenue mobilization from the oil sector for Agricultural production in Ghana, a myth or reality?

Agriculture, once considered the backbone of Ghana’s economy recorded a reduction of its contribution to GDP from 45% in 1992…

Responses Add your response


About Us
Reporting Oil and Gas project was launched on 4th June 2009 at Takoradi, Western Region, Ghana by Penplusbytes (www.penplusbytes.org) with the vision of providing a one stop online information and knowledge about Ghana’s oil and gas sector read more
Events Calendar
<< Aug 2017 >>
MTWTFSS
31 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3
Twitter Activity Stream
 

Partners We are proud to be associated with:

Skip to toolbar