Murphy Oil Corp. continues its new explorations off the coast of Mauritius by signing two production sharing contracts. The C-10 and Tiof blocks, which jointly cover about 3.1 million acres (12,500 square kilometers), are part of the company's efforts to expand its exploratory activities in West Africa.
Details of the Exploration Contracts
Murphy Oil, along with its affiliates, will hold 90 percent of the working interest in both blocks. The national oil company of Mauritius, Société Mauritanienne des Hydrocarbures (SMH), will retain a 10 percent interest as an asset share. This new collaboration allows both companies to further assess the exploratory potential of these blocks.
Expansion of Exploration Activities in West Africa
These contracts add to Murphy's growing exploration portfolio in West Africa. In June, the company made a light oil discovery in the Bubale-1X well off the coast of Ivory Coast, following a previous dry well. These successes demonstrate Murphy Oil's determination to expand its operations in the challenging oil and gas market in Africa.
Given the growing global demand for energy and the need for new resources, these contracts could provide new opportunities for economic development and growth in the Mauritius region. These actions will benefit the oil and gas industry in Mauritius as well as the energy supply for global markets.
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