{"id":4048,"date":"2015-11-05T11:16:43","date_gmt":"2015-11-05T11:16:43","guid":{"rendered":"http:\/\/www.oilnewskenya.com\/?p=4048"},"modified":"2017-01-26T12:50:56","modified_gmt":"2017-01-26T12:50:56","slug":"marathon-oil-exits-from-kenya-and-ethiopia","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/marathon-oil-exits-from-kenya-and-ethiopia\/","title":{"rendered":"Marathon Oil Exits from Kenya and Ethiopia"},"content":{"rendered":"

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.<\/p>\n

In its latest financial statement the company says it has signed agreement for sale of\u00a0East Africa\u00a0exploration acreage at an undisclosed amount and to an undisclosed buyer.<\/p>\n

“The Company signed an agreement in the third quarter to sell its Ethiopia and Kenya exploration acreage representing an exit from East Africa,” the company said in the statement.<\/p>\n

\"Africa<\/a>Among the blocks that were up for sale included 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

Marathon Oil was also a joint venture partner\u00a0in the Ethiopia Rift Basin Area Block with 50 percent interest while\u00a0Africa Oil is Operator and owns the remaining 50%.<\/p>\n

The company also had lucrative acreage in Kenya especially Block 9 where the company alongside its joint venture partner Africa Oil discovered natural gas in the\u00a0Sala 1<\/a>\u00a0well. The Sala-2<\/a>\u00a0appraisal 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 was to assume the role of operator if a commercial discovery is made.<\/p>\n

Marathon Oil also had 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 Cheptuket <\/a>in Elgeyo Marakwet early next year, as the company continues to expand its oil and gas search into new areas within the country.<\/p>\n","protected":false},"excerpt":{"rendered":"

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 … 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":[70,3215,264,288,2814,671,732,1252,1499,3780,2227,3216,2466],"class_list":["post-4048","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-cheptuket-well","tag-east-africa","tag-elgeyo-marakwet","tag-kenya","tag-marathon-oil","tag-rift-basin-area-block","tag-sala-1","tag-south-omo-concession","tag-tanzania","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-13i","jetpack-related-posts":[{"id":2929,"url":"https:\/\/www.oilnewskenya.com\/index.php\/marathon-oil-seeks-offload-blocks-kenya-ethiopia\/","url_meta":{"origin":4048,"position":0},"title":"Marathon Oil seeks to offload blocks in Kenya and Ethiopia","author":"","date":"May 18, 2015","format":false,"excerpt":"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. Citing the company\u2019s sale advisor Reuters says the company is taking offers for all or part of its\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":4060,"url":"https:\/\/www.oilnewskenya.com\/index.php\/africa-oil-completes-farm-out-of-kenya-ethiopian-licenses-to-maersk-oil\/","url_meta":{"origin":4048,"position":1},"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":4389,"url":"https:\/\/www.oilnewskenya.com\/index.php\/africa-oil-completes-ethiopia-farm-out-deal-with-maersk-oil\/","url_meta":{"origin":4048,"position":2},"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":234,"url":"https:\/\/www.oilnewskenya.com\/index.php\/africa-oil-abandons-dry-wells-in-kenya-ethiopia\/","url_meta":{"origin":4048,"position":3},"title":"Africa Oil abandons dry wells in Kenya, Ethiopia","author":"Samuel Kamau Mbote","date":"December 12, 2013","format":false,"excerpt":"Canadian explorer Africa Oil has been forced to abandon drilling at one of its wells in Marsabit County and another in Ethiopia after failing to encounter any traces of oil or gas. The Toronto Stock Exchange-listed firm said Monday that it is closing the Bahasi well, located within Kenya\u2019s Block\u2026","rel":"","context":"In "New Discoveries"","block_context":{"text":"New Discoveries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/new-discoveries\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4234,"url":"https:\/\/www.oilnewskenya.com\/index.php\/africa-oil-receives-kenyan-government-approval-of-maersk-oil-farm-in\/","url_meta":{"origin":4048,"position":4},"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":[]},{"id":4328,"url":"https:\/\/www.oilnewskenya.com\/index.php\/africa-oil-completes-kenyan-farm-out-deal-with-maersk-oil\/","url_meta":{"origin":4048,"position":5},"title":"Africa Oil Completes Kenyan Farm-out Deal With Maersk Oil","author":"","date":"February 4, 2016","format":false,"excerpt":"Africa Oil reports that it has completed the previously announced (November 9, 2015) farmout with\u00a0Maersk oil and gas\u00a0related to Kenyan Blocks 10BB, 13T and 10BA having received $427 million. Africa Oil Corp. farm-out with\u00a0Maersk Oli and Gas received approval from the Government of Kenya This amount represents US$344 million of\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\/4048","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=4048"}],"version-history":[{"count":2,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/4048\/revisions"}],"predecessor-version":[{"id":4051,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/4048\/revisions\/4051"}],"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=4048"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=4048"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=4048"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}