ExxonMobil Namibia (PEL44) Ltd. has agreed to acquire a 30% interest in petroleum exploration license 44 (PEL44) in the Walvis basin offshore Namibia from Azinam Ltd., according to the farmor.
Water depths in the 5,722-sq-km block range from less than 300 m to more than 2,500 m. The deal is subject to government approval and other conditions.
Azinam said it acquired 2,000 sq km of 3D seismic data over the area in 2016. After interpretation, it acquired an additional 1,160 sq km of data now being processed.
Azinam will retain a 12.5% interest. Maurel & Prom of Paris, the operator, has 42.5%. Carried Namibian partners are National Petroleum Corp. of Namibia, 8%; Livingston Mining, 4%; and Frontier Minerals, 3%.
Azinam is part of the Azimuth Group, an offshore exploration and production portfolio management company formed by Seacrest Capital Group, a private equity firm based in Bermuda.
ExxonMobil does not list any Namibian operations on its web site.