Gulf Oil and Gas accountACCOUNT

Total Signs PSC for Diaba License in Gabon

Source: www.gulfoilandgas.com 12/12/2006, Location: Africa

Through 58%-owned subsidiary Total Gabon, Total signed an exploration and production sharing contract for the offshore Diaba license in Gabon. Covering an area of 9,075 square kilometres, the license is located around 50 kilometres offshore southern Gabon in water depths ranging from 100 to 2,500 metres.

The license partners are Total Gabon with an 85% interest and the Gabonese Republic with a direct interest of 15%. The exploration program will be divided into three phases. The first phase, lasting three-and-a-half-years, consists of a commitment to shoot 2,000 kilometres of 2D seismic. The second phase, also lasting three-and-a-half years, comprises a commitment to shoot 700 square kilometres of 3D seismic, while the third phase, lasting three years, includes an obligation well.

This latest acquisition demonstrates Totalís confidence in continued operations in Gabon, in particular through the acquisition of new deep offshore acreage to explore new plays in previously untapped horizons.

Through subsidiary Total Gabon, the Group is the countryís top-ranked oil operator, with total operated crude oil production of around 37% of Gabonís total output. Totalís equity production averaged 98,000 barrels of oil equivalent per day in 2005.

Acquisitions and Divestitures News in Gabon >>

Argentina >>  11/13/2019 - Echo Energy, the Latin American-focused upstream oil and gas company, is pleased to announce that the acquisition by the Company of a 70 per cent. ini...
Norway >>  11/13/2019 - OKEA ASA (the Company) announces that the sale of 20% of the Company's participating interest in Grevling (PL 038D) and 18.57% of the Companyís partic...

Trinidad and Tobago >>  11/12/2019 - Columbus is pleased to announce the extension of the Inniss Trinity Incremental Production Service Contract (Inniss Trinity IPSC) to allow for the imp...
Somalia >>  11/11/2019 - Genel Energy plc has increased its stake in the SL10B13 block, onshore Somaliland, to 100%, having acquired East Africa Resource Group's 25% stake. ...

Nigeria >>  11/8/2019 - Savannah Petroleum PLC, the British independent oil & gas company focused around activities in Niger and Nigeria, is pleased to provide an update in r...
United States >>  11/7/2019 - Diversified Gas & Oil PLC (DGOC) is pleased to announce the sale of its non-producing assets recently acquired in Monroe County, Ohio for total cash c...

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 


Gabon Oil & Gas 1 >>  2 | 3 | 4 |

Oil & Gas Projects in Gabon >>

More News

Related Links

AO BJ BW CD CG CI CM DZ EG ET GA GH GM GN GQ GW KE LR LY MA MG ML MR MZ NA NE NG RW SC SD SL SN SO ST SZ TD TN TZ UG ZA ZM
Gulf Oil and Gas
Copyright © 2019 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.