Cepsa Picks up Stake in Liberia

Friday, April 11, 2014

Cepsa has acquired a 30% stake in a block offshore Liberia through a farm-out agreement. This is the company’s first asset in West Africa and fits into its planned expansion into emerging markets.

The block, LB-10, is operated by Anadarko Petroleum Corp. The company did not say how much it intends to spend on acquiring the stake.

Under the farm-out agreement Cepsa will participate in the drilling of two exploratory wells before August 2016.

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