Cape Town—Spain’s Repsol has agreed to take over operatorship of a highly prospective exploration block offshore Namibia where the existing players are targeting a 9.3-billionbarrel oil prospect, block partners Tower Resources said July 30. Under the deal, Repsol will take a 44% operating working interest in offshore license 0010 while Tower will double its stake in the block from 15% to 30% in a farm-in agreement with partners Arcadia.
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