Murphy Secures Rights To Azurite

CONGO

Murphy has secured 15-year development rights to the Azurite area within the deepwater Mer Profonde Sud (MPS) block, off Congo. A $2MM fee is due upon Decree publication and $3MM upon field production start. An additional $3MM will be due upon reaching output reaching 50 MMBO. Azurite will be developed through subsea wells and is expected to deliver first oil by first quarter 2009, producing 40,000 BOPD at peak. Murphy operates the MPS Block with 50%. Partners include PA Resources 35% and state hydrocarbon company SNPC 15%.



No comments yet.

Leave a comment

Comment form

All fields marked (*) are required

© 2020 Festac News Press Ltd..