(WO) – Murphy Oil Corp. has signed production sharing contracts for four blocks offshore Cameroon: Elombo, Etinde Exploration, Ntem and Tilapia. Together, the blocks cover about 2.6 million acres (10,500 km²).
A Murphy subsidiary will initially hold a 100% working interest and operate the blocks. Cameroon’s national oil company, Société Nationale des Hydrocarbures (SNH), keeps the right to take up to a 20% working interest in any future development. Murphy and SNH will now work together to further evaluate the blocks’ exploration potential.
The Cameroon deal is Murphy’s third new exploration entry in about a week. The company recently signed PSCs for the C-10 and Tiof blocks offshore Mauritania, covering about 3.1 million acres, and won six exploration licenses in Zone G offshore Israel. In June, it made a light oil discovery at Bubale-1X offshore Côte d’Ivoire.
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