Total to acquire stakes in two offshore Guyana blocks

PARIS, FRANCE: Total SA has signed agreements to acquire interests in two exploration licenses offshore Guyana, the Canje Block and the Kanuku Block.

These agreements come after entering into an option agreement for the nearby Orinduik Block, Total will thus own exploration rights to an area covering over 12,000 square kilometres in the Guyana Basin.

Total acquires a 35 percent working interest in the Canje Block, located in water depths of 1,700 to 3,000 meters, under the terms of the agreement signed with an affiliate of Canadian company JHI Associates Inc and Guyana-based company Mid-Atlantic Oil & Gas Inc. These two companies will retain a shared 30 percent interest alongside operator ExxonMobil (35 percent).

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