Total drops interest in Wessex

Offshore staff

BRISTOL, UK – Total has opted not to pursue its proposed acquisition of UK-based independent Wessex Exploration.

Wessex has a minority interest in the recent Zaedyus oil discovery off French Guiana, where Total is also a partner. The Wessex board believes Total’s offer undervalues the company.

Currently, Wessex remains fully funded for participation in a further Zaedyus appraisal well and at least one additional well. The Stena DrillMax ICE drillship should start operations in mid-2012.

4/12/2012

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...