French operator Maurel et Prom has announced that it has increased its stake in an sub-Saharan African play offshore Namibia
The oil and gas explorer has an increased holding in petroleum exploration licences (PEL) 44 and 45 offshore the southern African country to 42.5 per cent after acquiring 5.5 per cent from partner AziNam.
This move leaves both parties with 42.5 per cent stake each.
Maurel et Prom will retain the operatorship of the licences, which include oil Blocks 2212B, 2313A, 2313B and 2413A, the company said.
AziNam said in a statement, “The exercising of this option provides further confirmation of the significant prospectivity of these blocks, particularly after the discovery of a mature Aptian marine source rock in both of the recent exploration wells located adjacent to the licence area.”
