Limerick-based exploration company Circle Oil said this morning Petroholland will acquire a 70 per cent stake in its Ovambo Basin license in northern Namibia for €10.5 million ($15 million).
Circle will retain 20 per cent of the license, while Namibia's state-owned oil company, Namcor, will keep the rest the company said today in a statement.
Petroholland, a Dubai holding company, has hired Halliburton for technical and personnel services, it said.
Bloomberg