Mauritania Signs Two Offshore Exploration Contracts with Murphy Oil

(Credit: Ministry of Energy and Petroleum of Mauritania)

Mauritania has signed two exploration and production contracts with U.S. oil company Murphy Oil Corporation covering the offshore C10 and Tiof blocks in the country's coastal basin.

The Mauritanian government said the agreements were part of its efforts to revive offshore exploration and support the development of the country's oil and gas resources.

The government described the partnership as a significant step in attracting further investment into the hydrocarbons sector, citing the exploration potential of the country's offshore basin and its access to international markets.

The agreements were signed on November 3 in Nouakchott by Mauritania's Minister of Energy and Petroleum, Mohamed Abdel Vetah, on behalf of the government.

Murphy Oil was represented by Olson Christopher Charles, Senior Vice President, Exploration and Subsurface.

The announcement did not provide details on the contracts' financial terms, participating interests or planned exploration activities.

Murphy Oil, founded in 1950, is a U.S. independent oil and gas company with international offshore exploration, development and production operations.