Total, ExxonMobil swap interests offshore Norway

Total SA and ExxonMobil Corp. have agreed to swap interests in producing and undeveloped North Sea acreage offshore Norway.

Total said it will transfer to ExxonMobil a 5.6% interest in the PL089 license, a 2.52% interest in Sygna oil field, a 2.8% interest in Statfjord East oil field, and a 6.18% interest in Snorre oil field.

In exchange it will receive a 4.7% interest in Oseberg oil field and a 4.33% interest in the Oseberg transportation system along with a 100% interest in the PLO29c license and a 30% interest in the PLO29b license, which cover part of the undeveloped Dagny oil and gas discovery.

Total will make a “minor cash compensation” to ExxonMobil.

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...