XOM Exxon Mobil Corp

   By Nathan Allen 
 

Total SA (FP.FR) said Monday that it has signed agreements to acquire interests in two offshore exploration licenses in Guyana.

The French oil producer said it acquired a 35% working interest in the Canje Block, which is located in waters of between 1,700 meters to 3,000 meters. Exxon Mobil Corp. (XOM) is the operator on the block and also holds a 35% stake, while Canada's JHI Associates and Guyana-Based Mid-Atlantic Oil & Gas Inc. hold the remaining 30%.

Total also acquired a 25% working interest in the shallower Kanuku Block, which lies at a depth of between 70 meters to 100 meters, it said. The company will partner with Tullow Oil PLC (TLW.LN), which holds 37.5% and Repsol (REP.MC), which is the operator and also holds 37.5%, according to a release from Total.

The two new agreements are additional to an option agreement Total signed in 2017 to purchase a 25% stake in the nearby Orinduik Block from Canada's Eco Atlantic Oil & Gas Ltd. (EOG.V), which would retain a 15% stake following the exercise of the option, the company said.

Write to Nathan Allen at nathan.allen@dowjones.com

(END) Dow Jones Newswires

February 05, 2018 03:00 ET (08:00 GMT)

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