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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.
Total CEO Patrick Pouyanne said in a statement that the acquisition of Engie's upstream LNG business will give Total a worldwide market share of 10%.
The new company, named Vaar Energi, will be one of the largest players on the Norwegian continental shelf with a portfolio of 17 producing oil and gas fields.
Shell committed to the ambitious three-year sale plan following the decision to acquire BG Group in 2015 and the latest announcements bring its total asset sales to around $27 billion.
Endeavour Energy launched the sale of its North Sea oil and gas assets at an ambitious price target of $500 million, according to two industry sources and a document seen by Reuters.
Oceaneering acquired Ecosse Subsea, a provider of offshore engineering, seabed preparation, route clearance and trenching services to the renewable energy and oil and gas industries.
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.
Exploration well 7130/4-1 is the first well drilled in PL708. It was drilled to 3,160 m total depth in 288 m of water by the Transocean Arctic semisubmersible drilling unit.
Gas flowed from the well at a rate of 4.32 MMcf/d on a 16/64-in. choke from a 41.3 meter interval in the Rotliegend sandstone, FX Energy said in a news release.
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.