Petroleum Africa
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Wednesday, March 9, 2016
As part of its portfolio management Genel Energy has let go some of its assets in Africa. The company said that as part of its “ongoing portfolio management and rigorous control on costs and capital efficiency” it was reshaping its exploration portfolio into a focused “low-expenditure, high-impact potential asset base.”
As part of Genel’s process it let go of its interest in Ethiopia’s Adigala block. In addition, because of the limited remaining prospectivity in the Cap Juby and Mir Left Moroccan assets, and a disappointing drilling result offshore Côte d’Ivoire, the company also decided to exit these blocks.
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