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Namibia: Azinam wins ExxonMobil farm-in

ExxonMobil has agreed with Azinam to take a 30% stake in the Maurel & Prom-operated PEL 44 in the Walvis Basin as interest in Namibia rises ahead of drilling later this year. Azinam will retain a 12.5% interest in the block, while Maurel & Prom will retain its 42.5%, and Namibian partners Namcor, Livingstone Mining and Frontier Minerals will retain their carried interests of 8%, 4% and 3% respectively.Exxon already has 40% in PEL 83 in the Walvis Basin, where it agreed a farm-in with Portugal’s Galp in January.

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