Maersk farm-in gives it access to Lokichar prize

Maersk Oil has gained access to the prime Lokichar onshore development in Kenya as part of a farm-in deal with Africa Oil worth up to $845 million.

Maersk, struggling to revitalise flagging output, said this week it will pick up half of Africa Oil’s 50% interests in Tullow Oil-operated exploration licences 10BB, 10BA and 13T in Kenya.

These include access to the Lokichar licences, where Tullow and Africa Oil have made a string of finds with total contingent resources of about 600 million barrels of oil equivalent, which could increase with further exploration and appraisal work.

Maersk