Blue said on Tuesday it had entered into an agreement to farm out 20% of the Marburg prospect to Singaporean private company KIB Energy in exchange for a carry of the cost of drilling the first exploration well.
Under the deal, KIB will fund up to A$5 million (US$4.66 million) for a two-stage work programme. Stage one comprises the drilling and evaluation of the Marburg-1 exploration probe.
