Oilex has entered into a farm-out agreement with Sasol Petroleum Australia for exploration permit WA 338P.
Offshore staff
LONDON -- Oilex has entered into a farm-out agreement with Sasol Petroleum Australia for exploration permit WA 338P. Under the agreement, Oilex and its partners will each assign a 6% participating interest in the permit to Sasol.
In return, Sasol has agreed to bear 60% of certain costs associated with the acquisition of 1,064 sq km (411 sq mi) of 3D seismic data in the permit.
