Shell gains offshore Guyane interest

Shell has acquired a 33% interest in the Guyane maritime permit from Hardman Petroleum France, an affiliate of Tullow Oil.

Offshore staff

LONDON -- Shell has acquired a 33% interest in the Guyane maritime permit from Hardman Petroleum France, an affiliate of Tullow Oil. The permit area covers approximately 32,000 sq km (12,355 sq mi) in water depths between 2,000 m and 3,000 m (6,562 ft and 9,843 ft).

The acquisition, subject to approval by French authorities, includes an option to acquire an additional 12% stake at a later date.

The partners in the permit area are Hardman Petroleum France (operator with 64.5% interest); Shell Exploration and Production France (33% interest); and Northpet Investments (2.5% interest).

The partners are currently conducting a 3D seismic research program covering 3,000 sq km (1,158 sq mi) in the permit area.

11/11/2009

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