Murphy Oil signs production sharing agreements for four offshore blocks in Cameroon
MUR Murphy Oil Corp
$36.33 +1.11%
View chart & analysis → - 1Murphy Oil has signed four production sharing agreements covering approximately 2.6 million acres in Cameroon offshore.
- 2Murphy Oil will serve as the operator based on its initial 100% interest in all four blocks.
- 3The Cameroon National Hydrocarbons Corporation (SNH) will be granted an option to acquire up to a 20% interest once the project enters the development stage.
So what's the key point?
Murphy Oil has signed agreements to share resources in four areas in the Cameroon sea. The company will manage the operations and will initially hold a 100 percent interest.
Source Offshore Technology · View original ↗
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