LONDON: Exxon Mobil Corp has agreed to join Britain-based Sterling Energy Plc in exploring for oil in Madagascar.
Exxon Mobil will play for “a significant'' exploration program in return for a 70% interest in the offshore Ambilobe and Ampasindava oil fields, Sterling said in a statementMadagascar granted Sterling the licences for eight years, including a 25-year licence for production if oil is discovered, Sterling said. – Bloomberg
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