Marathon Oil sells Irish subsidiary

The US-headquartered energy company Marathon Oil today announced the sale of its Irish subsidiary, Marathon Oil Ireland Limited (MOIL) to PSE Ireland Limited, a subsidiary of Petroliam Nasional Berhad (Petronas).

The transaction has a total value of $180m (€138m) as of December 31, 2007. The sale does not include Marathon's 18.5% interest in the Corrib natural gas development, the company said in a statement.