US-based Murphy Oil Corporation and Austria’s OMV will search for oil and gas off Namibia’s coast
According to Reuters, Immanuel Mulunga, petroleum commissioner of Namibia, said that the deal involving Block 2613A&B had been approved by Isak Katali, minister for mines and energy.
Brazilian exploration company Cowan, which currently holds 85 per cent interest in the blocks, said that it will farm-out 45 per cent to Murphy Oil Corporation and 20 per cent to OMV, while retaining 20 per cent.
Murphy Oil Corporation will be the new operator in the block, government officials added.
State-owned National Petroleum Corporation of Namibia (NAMCOR) will maintain 15 per cent interest, stated the report.
However, there is no confirmation on the deal being finalised.
