Maersk Oil Enters PSA Deal for Angolan Blocks

Maersk Oil Angola and partners have entered Production Sharing Agreements with Sonangol covering Blocks 8 and 23 offshore Angola. Maersk Oil is designated operator and holds a 50% working interest. Other partners in Blocks 8 and 23 are Occidental Petroleum (30%) and Sonangol (20%).

Blocks 8 and 23 cover areas of some 5,000 square kilometers each. Water depth in Block 8 is up to 500 meters while Block 23 has water depths up to 1,500 meters. Maersk Oil is already operator for activities in Block 16.

The initial exploration phase is for 4 years during which the work program comprises seismic acquisition and, later, exploration drilling.

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