US independent Marathon Oil is coming onboard to acquire a 50% stake in the Rift Basin area recently awarded to Africa Oil to leave the pair as 50:50 partners in the tract, with the latter retaining operatorship.
The farminee, which already has a similar partnership with Africa Oil in Kenya’s Block 9, has agreed to pay $3 million to cover the latter’s past costs on the tract as well as fund $15 million of the operator’s working interest share of expenditure.
Marathon
