Gulf Oil and Gas accountACCOUNT

Total Acquires a Deep Offshore Exploration Block

Source: www.gulfoilandgas.com 11/22/2010, Location: Asia

Total announces that it has signed an agreement with the national oil company Petronas to acquire a 85% interest in the Block SK317B, offshore Malaysia. Under the terms of the agreement, Total will operate the Block alongside its partner Petronas Carigali holding the remaining 15% interest.

The Block SK317B is located around 100 kilometres offshore Sarawak, in water depths ranging from 200 to 1,000 metres. It covers an area of more than 700 square kilometres. The work commitments during the exploration period encompass seismic data acquisition and deep offshore exploration drilling, an area in which Total enjoys a recognized expertise.

“This acquisition reflects Total’s strategy to expand its exploration acreages in new areas or on new themes while developing its partnerships with national oil companies such as Petronas”, stated Jean-Marie Guillermou, Senior Vice President Asia-Pacific at Total Exploration & Production.

Acquisitions and Divestitures News in Malaysia >>

Austria >>  9/23/2020 - OMV and VERBUND reach agreement on transaction contract: VERBUND acquires 51% of shares Gas Connect Austria GmbH. The contract signing will take place...
Sweden >>  9/22/2020 - Inter Pipeline Ltd. announced that it has entered into a definitive agreement to divest a major portion of its European bulk liquid storage business t...

Australia >>  9/21/2020 - Comet Ridge Limited is excited to announce that the Company has been selected by the Queensland Government as preferred tenderer for two additional ga...
Brazil >>  9/21/2020 - Petrobras, in relation to the news published in the media, referring to the divestment of the Presidente Getúlio Vargas Refinery (Repar), clarifies th...

Norway >>  9/21/2020 - PGNiG Upstream Norway has signed an agreement with A/S Norske Shell to acquire interests in Kvitebjørn and Valemon, two producing fields in the North ...
Norway >>  9/21/2020 - PGNiG Upstream Norway has signed an agreement with A/S Norske Shell to acquire interests in Kvitebjorn and Valemon, two producing fields in the North ...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Malaysia Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 |

More News

Related Links

AZ BD BN CN GE HK ID IN IR JP KH KR KZ MM MN MY PG PH PK RU SG TH TJ TM TW UA UZ VN
Gulf Oil and Gas
Copyright © 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.