{"id":2929,"date":"2015-05-18T10:02:50","date_gmt":"2015-05-18T10:02:50","guid":{"rendered":"http:\/\/www.oilnewskenya.com\/?p=2929"},"modified":"2015-05-18T14:23:37","modified_gmt":"2015-05-18T14:23:37","slug":"marathon-oil-seeks-offload-blocks-kenya-ethiopia","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/marathon-oil-seeks-offload-blocks-kenya-ethiopia\/","title":{"rendered":"Marathon Oil seeks to offload blocks in Kenya and Ethiopia"},"content":{"rendered":"

Houston based Exploration Company Marathon Oil is said to have sought bids for of its onshore blocks in East Africa as the company puts more focus on drilling in U.S shale formations.<\/p>\n

Citing the company\u2019s sale advisor Reuters says the company is taking offers for all or part of its acreage in East Africa with cash bids due for July 23 and the data room to be opened to potential investors on May 29.<\/p>\n

Among the blocks that are up for grabs include the South Omo concession in Ethiopia where Marathon holds 20 percent working interest acquired from Agriterra Limited in October 2012. Tullow Oil is the operator of the concession with a 50 percent working interest, and Africa Oil holds the remaining 30 percent working interest. The concession has an area of approximately 1.1 million net acres (5.4 million gross).<\/p>\n

The company also has lucrative acreage in Kenya especially Block 9 where the company alongside its joint venture partner Africa Oil discovered natural gas in the Sala 1<\/a> well. The Sala-2<\/a> appraisal well however failed find any significant hydrocarbons updip.<\/p>\n

Kenya\u2019s Block 9 is approximately 1.9 million net acres (3.9 million gross) along a prospective Cretaceous Rift Trend. Africa Oil with a 50 percent working interest is to operate during the exploration phase, and Marathon Oil has the right to assume the role of operator if a commercial discovery is made.<\/p>\n

Marathon Oil also has a 15 percent working interest in Block 12A where Tullow Oil is the operator with a 65 percent working interest, and Africa Oil retains a 20 percent working interest.<\/p>\n

Block 12A is approximately 750,000 net acres (5 million gross) and is contiguous with Block 10BB to the north, which contains the significant Ngamia-1 oil discovery.<\/p>\n

Block Operator Tullow Oil has said it intends to drill its first exploration oil well named Lekep-A in Elgeyo Marakwet later this year, as the company continues to expand its oil and gas search into new areas within the country.<\/p>\n","protected":false},"excerpt":{"rendered":"

Houston based Exploration Company Marathon Oil is said to have sought bids for of its onshore blocks in East Africa as the company puts more focus on drilling in U.S … Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":780,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[11],"tags":[70,3215,264,288,732,809,1252,3214,1499,3216],"class_list":["post-2929","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-top-news","tag-africa-oil","tag-agriterra-limited","tag-block-12a","tag-block-9","tag-elgeyo-marakwet","tag-ethiopia","tag-kenya","tag-lekep-a","tag-marathon-oil","tag-south-omo-concession","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/03\/marathon-oil-corporation.jpg?fit=540%2C283&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-Lf","jetpack-related-posts":[{"id":4048,"url":"https:\/\/www.oilnewskenya.com\/index.php\/marathon-oil-exits-from-kenya-and-ethiopia\/","url_meta":{"origin":2929,"position":0},"title":"Marathon Oil Exits from Kenya and Ethiopia","author":"","date":"November 5, 2015","format":false,"excerpt":"Almost six months after Marathon Oil announced it had sought bids for of its onshore blocks in East Africa the American explorer has exited the region as the company focuses more on drilling in U.S shale formations. In its latest financial statement the company says it has signed agreement for\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/03\/marathon-oil-corporation.jpg?fit=540%2C283&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/03\/marathon-oil-corporation.jpg?fit=540%2C283&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/03\/marathon-oil-corporation.jpg?fit=540%2C283&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":4389,"url":"https:\/\/www.oilnewskenya.com\/index.php\/africa-oil-completes-ethiopia-farm-out-deal-with-maersk-oil\/","url_meta":{"origin":2929,"position":1},"title":"Africa Oil Completes Ethiopia Farm Out Deal with Maersk Oil","author":"","date":"February 23, 2016","format":false,"excerpt":"Africa Oil Corp.\u00a0 has report that it has completed the previously\u00a0announced\u00a0farmout with Maersk Olie og Gas A\/S (Maersk Oil)\u00a0related 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\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/07\/ethiopia-oil.png?fit=741%2C388&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/07\/ethiopia-oil.png?fit=741%2C388&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/07\/ethiopia-oil.png?fit=741%2C388&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/07\/ethiopia-oil.png?fit=741%2C388&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":1647,"url":"https:\/\/www.oilnewskenya.com\/index.php\/2d-seismic-in-ethiopias-rift-basin-area-set-for-q4\/","url_meta":{"origin":2929,"position":2},"title":"2D seismic in Ethiopia\u2019s Rift basin Area set for Q4","author":"Samuel Kamau Mbote","date":"August 20, 2014","format":false,"excerpt":"[twitter-follow screen_name='oilnewskenya'] Africa Oil is set to commence with a 2D seismic program in the Rift Basin Area, located north of the South Omo block in Ethiopia, next quarter. This is part of the planned work program by the block operator Africa Oil which is expected to range between 400\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/08\/rift-basin-area.png?fit=472%2C279&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":646,"url":"https:\/\/www.oilnewskenya.com\/index.php\/africa-oil-announces-farmouts-in-the-rift-basin-area-and-adigala-blocks-in-ethiopia\/","url_meta":{"origin":2929,"position":3},"title":"Africa Oil Announces Farmouts in the Rift Basin Area and Adigala Blocks in Ethiopia","author":"Samuel Kamau Mbote","date":"March 4, 2014","format":false,"excerpt":"Africa Oil has announced that it has received Ethiopian government approval in respect of two farmout agreements with Marathon Oil and New age Ethiopia Limited. Under the terms of the Marathon Oil farmout agreement, Marathon Oil will acquire a 50% interest in the Rift Basin Area in Ethiopia. Africa Oil\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2013\/12\/africaoil.png?fit=280%2C273&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":4060,"url":"https:\/\/www.oilnewskenya.com\/index.php\/africa-oil-completes-farm-out-of-kenya-ethiopian-licenses-to-maersk-oil\/","url_meta":{"origin":2929,"position":4},"title":"Africa Oil Completes farm-out of Kenya, Ethiopia Licenses with Maersk Oil","author":"","date":"November 9, 2015","format":false,"excerpt":"Africa Oil Corp.\u00a0has announced that it has entered into a definitive farmout agreement with\u00a0a Danish oil and gas company Maersk Oil & Gas A\/S, owned by the Maersk Group\u00a0(\"Maersk\")\u00a0whereby Maersk will acquire 50% of Africa Oil's interests in Blocks 10BB, 13T and 10BA in Kenya and the Rift Basin and\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2015\/11\/maersk-oil-logo.png?fit=1024%2C569&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2015\/11\/maersk-oil-logo.png?fit=1024%2C569&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2015\/11\/maersk-oil-logo.png?fit=1024%2C569&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2015\/11\/maersk-oil-logo.png?fit=1024%2C569&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":4234,"url":"https:\/\/www.oilnewskenya.com\/index.php\/africa-oil-receives-kenyan-government-approval-of-maersk-oil-farm-in\/","url_meta":{"origin":2929,"position":5},"title":"Africa Oil Receives Kenyan Government Approval of Maersk Oil Farm In","author":"","date":"January 11, 2016","format":false,"excerpt":"Africa Oil Corp.\u00a0has reported that the previously announced farm-out with\u00a0Maersk Oli and Gas has received approval from the Government of Kenya. This gives a green light for completion of the farm-out of Blocks 10BB, 13T and 10BA.At completion of the Maersk farmout, the new respective interests in each of Africa\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2015\/11\/Africa-Oil-East-Africa-acreage.png?fit=399%2C498&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/2929","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=2929"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/2929\/revisions"}],"predecessor-version":[{"id":2930,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/2929\/revisions\/2930"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/780"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=2929"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=2929"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=2929"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}