Marathon Oil Corp. followed up on its entry into East Africa in July by purchasing a stake in an Ethiopian license operated by Tullow Oil Plc. (TLW)
Marathon will pay $40 million to Agriterra Ltd., an agricultural company focusing on sub-Saharan Africa, for a 20 percent stake in the South Omo Block. A further $10 million will be paid in the event of a “commercial discovery,” Maputo, Mozambique-based Agriterra said on October 3rd in a statement.

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