LONDON – Hague and London Oil (HALO) intends to acquire the full interest in its offshore French Guiana joint venture, Northpet Investments, from a subsidiary of Northern Petroleum.
This would increase HALO’s interest in the Guyane Maritime Permit to 7.5%.
Although the license expired earlier this year, new operator Total (the only other partner in the concession) has applied for an extension.
During August, HALO also signed a memorandum of understanding with ENGIE Global Energy Management to cooperate in natural gas production and reserves within Europe.
HALO would target, acquire, and manage low-risk production assets. Late last year the company applied for an offshore exploration license in the Dutch North Sea F5 block, and expects results shortly.
In addition, the company is preparing further applications for the Dutch continental shelf in the coming months.
In September 2015, the company entered into a conditional agreement with West Natuna Exploration Ltd. to acquire 85% in the Duyung PSC in the Natuna Sea, offshore Indonesia.
However, the partners have not received regulatory approvals and therefore decided to terminate the agreement. The Duyung license will expire on Jan. 15, 2017.