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Murphy Oil (NYSE:MUR) CEO Roger Jenkins said he hopes the company will drill its first well offshore Côte d’Ivoire in summer 2025, pending the completion of talks with government officials, Oil & Gas Journal reported Monday.
Jenkins reportedly told last week’s J.P. Morgan 2024 Energy, Power & Renewables Conference that Murphy (MUR) has a team on the ground in Côte d’Ivoire to handle the talks and lean on the experience gathered by its leadership during work in Malaysia, Vietnam and other places.
Murphy (MUR) signed production sharing contracts last year for operated contracts in five deepwater blocks in the Tano offshore basin spanning ~1.5M gross acres that are situated between two fields discovered by Eni, including the Baleine field, which is estimated to hold 2.5B barrels of oil and more than 3T cf of gas.
Because of that, Jenkins said interest from other industry players in taking part in the development of Murphy’s (MUR) holdings is high.
“We can do a deal with anyone in the world today for those blocks,” Jenkins said, according to Oil & Gas Journal. “The terms to farm into that can get very, very good over time.”