Maersk to Sell Oil, Gas Exploration Licenses

COPENHAGEN, Jan 16, 2007 (Dow Jones Commodities News via Comtex)

Maersk Oil and Gas, a unit of Denmark's AP Moller-Maersk A/S (MAERSK-B.KO) will sell its exploration licenses in a number of countries and concentrate its activities in the Kerr McGee operations in the North Sea, financial daily Boersen reports Tuesday.

The newspaper said a prospectus by investment bank Tristone Capital lists Maersk licenses in Morocco, Surinam, and the German part of the North Sea as being up for sale.

It also writes Maersk is in talks to sell part of an exploration license in Turkmenistan to the Indian company OMEL, a joint venture between Oil and Natural Gas Corp. Ltd. (500312.BY) and Mittal Steel Co. (MT).

"I can confirm that we are negotiating selling parts of exploration licenses in a number of countries," says Maersk Oil and Gas Deputy Director Anders Wurtzen.

Copyright (c) 2007 Dow Jones & Company, Inc.

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