Maersk Oil completed the acquisition of 50% of Africa Oil Corporation’s share in two contiguous licenses in southern Ethiopia and three onshore exploration licenses in the Turkana region of northern Kenya.
According to the company, the transaction was recently approved by the Ethiopian and Kenyan governments.
The licenses cover about 100,000 sq km and include nine recent oil discoveries. Exploration and appraisal activities are ongoing.
Tullow Oil operates four of the blocks, while Africa Oil operates one.
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