Murphy Oil, OMV take Namibia stakes

|About: Murphy Oil Corporation (MUR)|By:, SA News Editor

Murphy Oil (MUR) and OMV (OMVJF) team up to enter an exploration project offshore Namibia, acquiring a combined 65% interest in two exploration blocks from Brazil's Cowan Petroleum.

MUR will become operator of the joint venture with a 40% stake in each block.

OMV says offshore Namibia offers great exploration potential as it is largely unexplored yet with all the elements of an effective hydrocarbon system.