08.12.2009
French oil company Total has acquired a 25pc stake in the Guyane Maritime Permit in French Guiana, which is owned by Hardman Petroleum France SAS, an affiliate of Dublin-listed oil exploration firm Tullow Oil.
The permit, located about 150km off the coast of the French Guiana, covers an area of approximately 32,000 sq km in water depths ranging from 2,000 to 3,000 metres. A 3D seismic acquisition programme covering an area of up to 3,000 sq km is already underway.
The acquisition is subject to approval from the French authorities.
Under the new partnership structure, Hardman Petroleum France SAS is operator of the permit with a 39.5pc interest. Other partners are Shell Exploration and Production France SAS (33pc), Total E&P Guyanne Française (25pc) and Northpet Investments Ltd (2.5pc).
“With the acquisition of an interest in the Guyane Maritime Permit, Total will be able to bring its expertise in deep water to an exploration programme deployed in a French department,” said Yves-Louis Darricarrère, President, Exploration & Production at Total.
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