Total acquires new offshore blocks in the Gulf of Mexico
Posted: 1 April 2008
Total subsidiary, Total E&P USA Inc., was the highest bidder in the lease sale 206 on 13 blocks in the Central Gulf of Mexico.
Situated in deep waters (1,500 to 2,000 metres) and close to Total’s wholly-owned blocks in this area, each of the thirteen Lease Sale blocks is of an area of approximately 25 square kilometres. The lease period for these exploration blocks is ten years.
Total E&P USA Inc. will operate and wholly own 12 blocks in the Garden Banks and Keathley Canyon areas. Total will own 50 per cent of the thirteenth block in partnership with Cobalt International Energy L.P.
The award of these blocks is subject to final approval by the Minerals Management Service.
Total has also recently acquired a 50 per cent working interest from Cobalt in 8 deep offshore blocks located in the Garden Banks area close to Total’s blocks in the same area. Cobalt, the operator, acquired these blocks in 2006, for a lease term of ten years.
Posted by Richard Price, Editor, EnergyME.com
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