Exxon Mobil is acquiring an interest in a second exploration license offshore Namibia, the latest in a series of moves by the US supermajor to secure prime positions in frontier acreage in West and Southern Africa. Exxon’s new deal through Dubai-based Azinam is another boost for the Atlantic margins, highlighted by the company’s own success offshore Guyana on the Latin American side at the multibillion barrel Liza discovery. Spurred by discoveries, both sides of the ocean have attracted growing explorer interest throughout the oil price downturn of the past four years. The new transaction follows Exxon’s initial farm-in deal in Namibia with Portugal’s Galp earlier this year (IOD Feb.2’18).
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