Total in Guyana acquisition, SA sale

Total has acquired interests in two blocks offshore Guyana and separately sold a 25% stake in Block 11B/12B offshore South Africa to Qatar Petroleum, the company announced on Monday.

In Guyana, the super-major has acquired a 35% working interest in the Canje block from JHI Associates and Mid-Atlantic Oil & Gas and a 25% working interest in the Kanuku block from Repsol. ExxonMobil will remain the operator of Canje with a 35% interest, alongside JHI Associates and Mid-Atlantic Oil & Gas, which together will keep a 30% stake. Repsol will continue as operator of Kanku with a 37.5% stake alongside Tullow Oil (37.5%).

Total also retains an option to acquire a 25% stake in the nearby Orinduik block from Eco Atlantic Oil & Gas, a company statement added.

“Total is very pleased with this significant entry in the prolific Guyana Basin,” said Arnaud Breuillac, the super-major’s president for E&P. “The Canje, Kanuku and Orinduik blocks are located in a very favorable petroleum context, evidenced by the Liza discovery in 2015. Acquiring interests in these highly prospective licences is in line with the new exploration strategy in place since 2015.”

No financial details were offered for any of the agreements.