Delonex Energy completes purchase of Marathon Oil’s former East African asset portfolio
London, 23rd March 2016 -Delonex Energy is pleased to announce, following announcements from the Kenyan Government (10th February 2016) and Ethiopian Government (23rd March 2016), that it has completed the purchase of the former East African assets of Marathon Oil.
The Blocks are Ethiopian South Omo Block (22,034 km>2), Ethiopian Rift Valley Block (42,519 km2), Kenyan Block 9 (15,782 km2) and Kenyan Block 12A (15,390 km2)
Ethiopia Rift Valley Block interests are Delonex Energy (50%), Africa Oil Corporation (25% and Operator), Maersk Oil (25%). Ethiopia South Omo Block interests are Tullow Oil (50% and Operator), Delonex Energy (20%), Africa Oil Corporation (15%) & Maersk Oil (15%).
Kenya Block 9 interests are Delonex Energy (50%) and Africa Oil Corporation (50% and Operator). Kenya Block 12A interests are Tullow (40% and Operator), Delonex Energy (40%) and Africa Oil Corporation (20%).
About Delonex Energy
Delonex Energy is an oil and gas company focused on Sub-Saharan Africa. The Company’s vision is to unlock the hydrocarbon potential of the countries where we operate, and to create value for host governments. The Company is led by CEO Rahul Dhir and a highly experienced team with a proven track record in exploration, development and production across the globe. Delonex is currently active in Ethiopia, Kenya and Mozambique, and seeking to expand our business into West Africa where we are actively evaluating acquisition of discovered resources and producing assets.
Delonex Energy was established in 2013 with an initial investment of $600m led by Warburg Pincus, a global private equity firm, and the IFC, a member of the World Bank Group. The Company is committed to the highest standards of Health, Safety, Environmental, Social and Corporate Governance, and has a strong focus on promoting community development to create sustainable value.
Delonex Energy is headquartered in London, United Kingdom with offices in Ethiopia, Kenya, Mozambique and India.
Stephen Torode, Regional Director, +254 733 700720