Maersk Oil Acquires Stake in Block 16 Offshore Angola from CNR

Maersk Oil has purchased from Canadian Natural Resources Limited the 50% interest of CNR Ranger (Angola) Limited in the Production Sharing Agreement for Block 16, offshore Angola.

Other partners in the Production Sharing Agreement are Sonangol (20%), Devon (15%) and Odebrecht (15%).

Block 16 covers an area of some 4,900 square kilometers and is situated in water depths of 200-1500 meters, some 100 kilometers from the coast. The companies will carry out an agreed exploration work program in the area.

The transaction is subject to regulatory approvals.

Block 16 will represent Maersk Oil's first petroleum activity in Angola.