OMV AG and Murphy Luderitz Oil Co. Ltd. have acquired 65% interest in Blocks 2613A and 2613B offshore Namibia from Brazil’s Cowan Petroleum.
Murphy will operate the joint venture with 40% interest, OMV will hold 25% interest, Cowan will retain 20%, and the remaining 15% will be held by Namibian national oil company Namcor.
The joint venture partners will conduct an extensive 3D seismic program starting in the second quarter.
“Offshore Namibia offers great exploration potential as it is largely unexplored, yet has all the elements of an effective hydrocarbon system. The transaction is fully in line with our growth strategy and our focus on the North Sea region, Black Sea, and opportunities like these in Sub-Saharan Africa,” said Jaap Huijskes, OMV executive board member responsible for exploration and production.