Offshore staff
PARIS– Total has acquired assets in the Gulf of Mexico as part of Cobalt International Energy’s bankruptcy auction sale.
Total submitted offers on several assets for a consideration of about $300 million and has acquired from Cobalt:
- A 20% interest in theNorth Platte discovery.As a result, Total increases its interest to 60% and becomes operator of this discovery. Total will have Statoil as a partner, who acquired the remaining 40%.
- A 20% interest in theAnchor discovery.As a result, Total increases its interest to 32.5%, after having acquired 12.5% last December. This discovery is operated by Chevron with 55%. Venari holds the remaining 12.5%
- 13 offshore exploration blocks,which will be operated by Total.
The United States Bankruptcy Court approved these results on April 5, 2018.
Discovered in 2012 by Total and Cobalt in the Wilcox play, North Platte covers four blocks of the Garden Banks area, 275 km (171 mi) offshore in about 1,300 m (4,265 ft) of water. The field is now fully appraised with a total of three wells and three side tracks.
Arnaud Breuillac, president Exploration & Production at Total, said: “... We will now develop the North Platte discovery, looking for the most efficient scheme in terms of development cost.”
Discovered in 2014,Anchor is also located in the Wilcox play, 225 km (140 mi) offshore Louisiana in approximately 1,500 m (4,921 ft) of water.
04/11/2018
