Perenco to acquire Marathon Oil Gabon

Perenco strengthened its position in Gabon with the acquisition of Marathon Oil Corp.’s wholly owned subsidiary Marathon Oil Gabon Ltd., which holds a 56.25% working interest in three offshore production fields.

By OGJ editors
HOUSTON, Oct. 1
-- Perenco strengthened its position in Gabon with the acquisition of Marathon Oil Corp.’s wholly owned subsidiary Marathon Oil Gabon Ltd., which holds a 56.25% working interest in three offshore production fields. The effective date of the transaction is Jan. 1 with completion anticipated during the fourth quarter.

Perenco's acquisition of Marathon's stakes in the Tchatamba Marin, Tchatamba South, and Tchatamba West fields will add about 15,000 bo/d gross production to the company’s current 50,000 bo/d operated production in Gabon.

Perenco will now be the operator at these fields, from where production is processed on a single facility at Tchatamba Marin, with processed oil being transported through a pipeline to a nonoperated onshore facility.

Tchatamba Marin field, which lies 15 miles offshore and 100 miles southeast of Port Gentil, was discovered in 1995 and began production in early 1998. Tchatamba South and West fields were discovered in 1997 and came on stream in 1999 and 2000, respectively.

More in Companies