Tullow in OMV Madagascar farm-out

tullow 130 April 2014, News Wires – Tullow Oil has farmed out a sizeable chunk in a pair of onshore blocks in Madagascar to Austria’s OMV.

The deal with the state-owned energy company came on the same day Tullow revealed thefarm-out of stakes in UK southern North Sea to Faroe Petroleum.

OMV is getting a 35% stake in both onshore blocks 3109 (Mandabe) and 3111 (Berenty), with Tullow remaining operator of both on 65%.

A round of 2D seismic is expected on Mandabe some time this year, with the first well to spud on Berenty in the first quarter. The former is 7189 square kilometres, while the latter is 7492 sqkm.

The blocks are Tullow’s only acreage in Madagascar.

This is OMV’s second foray into Madagascar after it took a 40% stake in the offshore Grand Prix block last year from Niko Resources. OMV is operator and drilling is expected to commence early next year.


– Upstream

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