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Murphy Oil (NYSE:MUR) Chief Executive Roger Jenkins said he hopes the company will be able to drill its first well offshore Ivory Coast in the summer of 2025, pending the completion of negotiations with government officials. Oil & Gas Magazine reported on Monday.
Jenkins reportedly eventually told Murphy said this week at the J.P. Morgan Energy, Power and Renewables 2024 conferenceMoore) has a field team in Côte d’Ivoire to handle negotiations, drawing on its leadership’s experience gained while working in Malaysia, Vietnam and elsewhere.
Murphy (MUR) last year signed a production-sharing contract to operate five deepwater blocks in the Tano offshore basin totaling about 1.5 million acres, which are located between two fields discovered by Eni and include estimated reserves. The Baleine field has 2.5B barrels of oil and over 3T cf of natural gas.
As a result, Jenkins said interest from other industry players in participating in the development of Murphy’s (MUR) holdings is high.
“We can make a deal with anyone in the world today on these blocks,” Jenkins reportedly said. Oil & Gas Magazine. “Over time, the conditions for participating in this may become very, very good.”
