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Maersk Oil has acquired licences and exploration acreage in southern Ethiopia comprising:
“Maersk Oil is committed to pursuing profitable growth by focusing on expanding within our core geographies. In addition we are rebuilding the exploration business with new acreage positions and pre-development discoveries to balance the risk profile in our portfolio. This agreement with Africa Oil is an example of this,” said Maersk Oil CEO Jakob Thomasen when announced in November 2015.
The acreage is connected to licence agreements in Kenya, together covering an area of 100,000 square kilometres, including eight recent oil discoveries, with ongoing exploration and appraisal activities.