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Fri 06 Jun 2009Oil giant Marathon sells interest in Corrib gas field for $400m
US OIL company Marathon is selling its share of the Corrib natural gas field off the west coast to Canadian rival Vermilion in a deal potentially worth $400 million (€285 million).
Both groups announced the sale early yesterday. Marathon said that it has agreed to sell its 18.5 per cent stake in the Corrib field, off the Mayo coast, to Vermilion, for an initial payment of $100 million, once the deal goes through later this year.
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