STOCKHOLM, Sweden – The Murphy Oil-operated Azurite field offshore Republic of Congo (Brazzaville) has reached its economic limit, according to partner PA Resources (PAR).
Following the final shipment of oil, abandonment will start later this year.
In the Mer Profonde Sud exploration area in the same region, a farm-out offer process is under way. PAR has an 85% operating interest.
The partners have secured an extension of the license until November to complete subsurface studies and to attract one or more partners for continued exploration. The concession carries a single-well commitment.
Earlier this year, the company exited an offshore Greenland permit and it is looking to farm out a 40% stake in its Danish North Sea 12/06 license (PAR 64%), which contains the Lille John discovery.