Marathon Oil closes Kurdistan divestiture
Marathon Oil Corp. closed on the sale of its 15% participating interest in the Atrush block in Kurdistan, where first-quarter production averaged 2,400 net boe/d. The divestiture marks the company’s exit from the country.
May 31st, 2019
Marathon Oil Corp. closed on the sale of its 15% participating interest in the Atrush block in Kurdistan, where first-quarter production averaged 2,400 net boe/d. The divestiture marks the company’s exit from the country.
Abu Dhabi National Energy Co. PJSC (TAQA) is the operator of the block, which lies 85 km northwest of Erbil.
With this transaction and its agreement to divest its UK business, Marathon Oil will have exited from 10 countries since 2013 (OGJ Online, Feb. 25, 2019).