Total announced on February 5, 2018, that the company signed agreements to acquire interests into 2 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. Subject to the approval of relevant authorities, Total will thus own exploration rights to an area covering over 12,000 square kilometers in the Guyana Basin.
«The Canje, Kanuku and Orinduik blocks are located in a very favorable petroleum context, evidenced by the Liza discovery in 2015. Acquiring interests in these highly prospective licenses is in line with the new exploration strategy in place since 2015», said Arnaud Breuillac, President, Exploration & Production at Total.
Total acquires a 35% 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 JHI Associates and Guyana-based Mid-Atlantic Oil & Gas. These 2 companies will retain a shared 30% interest alongside operator ExxonMobil (35%).
Total acquires a 25% working interest in the Kanuku Block, located in water depths of 70 to 100 meters, under the terms of the agreement signed with operator Repsol (37.5%), and will be a partner alongside Tullow (37.5%).
Total holds an option to purchase a 25% working interest in the Orinduik Block, located in water depths of 70 to 100 meters, under the terms of the agreement signed in September 2017 with an affiliate of Canadian Eco Atlantic Oil & Gas, who will retain a 15% interest following exercise of the option, alongside operator Tullow (60%).
