Seeking Alpha

Murphy Oil, OMV take Namibia stakes

  • 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.
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