{"id":4389,"date":"2016-02-23T08:05:12","date_gmt":"2016-02-23T08:05:12","guid":{"rendered":"http:\/\/www.oilnewskenya.com\/?p=4389"},"modified":"2016-02-23T08:10:46","modified_gmt":"2016-02-23T08:10:46","slug":"africa-oil-completes-ethiopia-farm-out-deal-with-maersk-oil","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/africa-oil-completes-ethiopia-farm-out-deal-with-maersk-oil\/","title":{"rendered":"Africa Oil Completes Ethiopia Farm Out Deal with Maersk Oil"},"content":{"rendered":"

Africa Oil Corp.\u00a0 has report that it has completed the previously\u00a0announced<\/a>\u00a0farmout with Maersk Olie og Gas A\/S (Maersk Oil)\u00a0related to the South Omo and Rift Basin Blocks in Ethiopia.<\/p>\n

At completion of the Ethiopian farmout, Africa Oil received a payment of US$12.8 million from Maersk Oil.<\/p>\n

The resulting interests in each of Africa Oil’s Ethiopian blocks are as follows:<\/p>\n\n\n\n\n\n
Ethiopia Rift Basin<\/td>\n<\/td>\nAfrica Oil – 25%*<\/td>\n<\/td>\nMaersk Oil – 25%<\/td>\n<\/td>\nMarathon – 50%<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Ethiopia South Omo<\/td>\n<\/td>\nAfrica Oil – 15%<\/td>\n<\/td>\nMaersk Oil – 15%<\/td>\n<\/td>\nTullow – 50%*<\/td>\n<\/td>\nMarathon – 20%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

*denotes Operator<\/p>\n

Keith Hill, Africa Oil’s CEO commented, “We are very pleased to have completed our farmout to Maersk Oil. We feel Maersk Oil will be an excellent partner in terms of technical and financial strength.<\/p>\n

\u201cWe are pleased to announce that we are now officially a partner in the five East African exploration licences and look forward to adding value to the partnership. The entry into Kenya is part of our commitment to <\/span>pursuing profitable growth and takes advantage of the opportunities arising in the current market. By building the exploration business with new acreage positions and pre-development discoveries, we can balance the risk profile of our portfolio,\u201d<\/span> said Maersk Oil\u2019s Chief Growth Officer Ebbie Haan.<\/span><\/p>\n

Earlier in the month Africa Oil reported that it has completed the November 2015 farmout with\u00a0Maersk oil and gas\u00a0related to Kenyan Blocks 10BB, 13T and 10BA having received $427 million after approval<\/a>\u00a0from the Government of Kenya in January.<\/p>\n","protected":false},"excerpt":{"rendered":"

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 … Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":1441,"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":[70,74,4099,809,1249,3784,4098,3819,2380],"class_list":["post-4389","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-top-news","tag-africa-oil","tag-africa-oil-corp","tag-ebbie-haan","tag-ethiopia","tag-keith-hill","tag-maersk-oil","tag-maersk-olie-og-gas-as","tag-rift-basin-block","tag-south-omo","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/07\/ethiopia-oil.png?fit=741%2C388&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-18N","jetpack-related-posts":[{"id":4328,"url":"https:\/\/www.oilnewskenya.com\/index.php\/africa-oil-completes-kenyan-farm-out-deal-with-maersk-oil\/","url_meta":{"origin":4389,"position":0},"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":[]},{"id":4060,"url":"https:\/\/www.oilnewskenya.com\/index.php\/africa-oil-completes-farm-out-of-kenya-ethiopian-licenses-to-maersk-oil\/","url_meta":{"origin":4389,"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":4234,"url":"https:\/\/www.oilnewskenya.com\/index.php\/africa-oil-receives-kenyan-government-approval-of-maersk-oil-farm-in\/","url_meta":{"origin":4389,"position":2},"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":4405,"url":"https:\/\/www.oilnewskenya.com\/index.php\/africa-oil-receives-12-month-extension-in-rift-basin-area-ethiopia\/","url_meta":{"origin":4389,"position":3},"title":"Africa Oil Receives 12 month extension in Rift Basin Area Ethiopia","author":"","date":"February 28, 2016","format":false,"excerpt":"Africa Oil has received a twelve month extension to the initial exploration period in the Rift Basin Area and will now expire in February 2017. 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According to the announcement Africa Oil is due to receive\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":6212,"url":"https:\/\/www.oilnewskenya.com\/index.php\/total-gets-stake-turkana-following-acquisition-maersk-oil\/","url_meta":{"origin":4389,"position":5},"title":"Total Gets Stake in Turkana Following acquisition of Maersk Oil","author":"","date":"August 21, 2017","format":false,"excerpt":"Total\u00a0has announced that the Boards of\u00a0Total\u00a0and\u00a0A.P. M\u00f8ller \u2013 M\u00e6rsk have both approved the acquisition of 100% of the equity of the E&P company\u00a0Maersk Oil & Gas, a wholly owned subsidiary of A.P. 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