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The acquisition is expected to increase Total’s output to 3 MMboe/d by 2019.
The agreement gives Total stakes in the Iara and Lapa fields and gives Petrobras an option to acquire interest in the Perdido Belt area in the Gulf of Mexico.
News of a deepwater Gulf of Mexico discovery is made as the company reports falling profits and growth priorities.
The total oil in place in the Upper Portland pay has increased from 7.7 MMbbl per square mile to 22.9 MMbbl per square mile.
The import-dependent nation is in the aftermath of its most successful licensing round, with attention on its Atlantic Margin emerging frontier area.
Shell agreed to sell its upstream interests in Denmark in the Danish Underground Consortium to Noreco for $1.9 billion as part of the oil major’s larger divestment program.
IPC will acquire BlackPearl for roughly C$622.5 million and combine its assets with IPC’s existing assets in Canada as well as in France, Malaysia and the Netherlands.
According to a letter obtained by Reuters, Chevron has agreed to transfer its 20% stake in an exploration license in the Arctic, called PL859, to Norway's DNO ASA.
Equinor is interested in buying Chevron's stake in Rosebank, an oil and gas field in the British part of the North Sea, two sources told Reuters.
The new oil and gas company called Wintershall DEA will be headquartered in Kassel and Hamburg and will seek to list itself through an IPO, BASF said.
Results of a seven-day flow test program for the Balcombe-2z horizontal well in the U.K.’s Weald Basin have led Angus Energy to believe the discovery is capable of producing at commercial rates.
Siccar Point Energy has successfully concluded well testing operations on the 204/10a-5 appraisal well in the Cambo field, north-west of Shetland, the company said Aug. 23.
Frontera Resources Corp. on April 19 announced the successful completion of drilling operations at the Dino-2 well, the second of the three-well drilling campaign at the company’s Taribani complex on Block 12 in Georgia.
The Horse Hill-1 (HH-1) well has flowed light, sweet crude at an average rate of 168 barrels per day (bbl/d), Solo Oil said in a news release.
Roxi Petroleum’s Well 143 at its flagship asset BNG in Kazakhstan has flowed oil strongly since the start of 2016 and continues to flow well, the company said in a news release Jan. 13.
Well 6507/11-11 will be first well drilled in production license 591 near Heidrun and Njord fields in Norwegian North Sea. The license 591 was awarded on Feb. 4, 2011.
Madrid, Spain-based Repsol produces 18 Mcm of gas in Bolivia. The new gas discovery is in the Margarita-Huacaya Block in southern Bolivia, in the Caipipendi area.
This is production license 589’s first exploration well, drilled to 4,655 m vertical depth. It was terminated in Middle to Upper Triassic red sandstone layers in 262 m of water.
UK Oil & Gas Investments Plc found more than 8 Bbbl of shale oil in Horse Hill Field in Weald Basin. The basin is near London’s second-busiest airport, Bloomberg said.
Statoil ASA made another natural gas discovery in Block 2 offshore Tanzania, Reuters said. The company will now appraise one of its previous seven discoveries, and then evaluate several projects.