From the Field
ExxonMobil in Namibia farm-in
WINDHOEK, August 14, 2018 – ExxonMobil has agreed to acquire a 30% stake in the PEL 44 licence offshore Namibia, seller Azinam announced on Tuesday.
“I’m thrilled that ExxonMobil is joining Azinam as partner in the PEL 44 licence,” Erik Tiller, Azinam’s chairman, said in a statement. “This marks yet another milestone in our activity offshore Namibia.”
Azinam will keep a 12.5% stake in the licence. Maurel & Prom operates the block with a 42.5% stake in it. The remaining partners are NAMCOR (8%), Livingstone Mining (4%) and Frontier Minerals (3%).