Cameroon Murphy Oil becomes operator on Ntem

Cameroon: Murphy Oil becomes operator on Ntem

Wednesday, 23 November 2011 10:00 |

The British company Sterling Energy has concluded a farm-out agreement, for its Cameroonian concession, with the Akansas oil firm, Murphy Oil.
Murphy, through its subsidiary Murphy Cameroon Ntem Oil Co Ltd, obtains 50 % of the block which it operates. In return, the American paid to Sterling a contribution covering costs already incurred and will fully finance the ongoing exploitation phase.
Ntem is a block situated in water depths of between 400 and 2000 metres.

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Cameroon: Murphy Oil becomes operator on Ntem

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