Tag: Total

Global conventional exploration farm-in/farm-out activity has reduced by around two thirds from 2012 to 2017, in line with the reduction in overall drilling activity, according to research by Westwood Global Energy Group. As activity levels have fallen, so have deal terms and costs.

Serica Energy signed a Sale and Purchase Agreement to acquire further interests in the Bruce and Keith fields and associated infrastructure in the UK North Sea from Total. Completion of the transaction with is anticipated to take place after completion of the acquisition of interests in the Bruce, Keith and Rhum fields.

French oil major Total announced the closing of the acquisition of compatriot Engie’s portfolio of upstream liquefied natural gas (LNG) assets for an overall enterprise value of $1.5 billion. This transaction makes Total the second largest global LNG player, the company claimed.

Total Marine Fuels Global Solutions and Pavilion Gas have signed Heads of Agreement to jointly develop a LNG bunker supply chain in the port of Singapore. The agreement covers the shared long-term time charter of a new generation LNG bunker vessel to be commissioned by Pavilion Gas by 2020.

Lebanon’s authorities approved an exploration plan submitted by a consortium of Total, Eni and Novatek for search for  its first oil and gas reserves. According to Energy and Water Minister Cesar Abi Khalil, Lebanon wants to launch a second offshore round by the end of 2018 or beginning of 2019.

French oil and gas major Total inked an agreement with Russian LNG producer Novatek to acquire a direct working interest of 10% in Arctic LNG 2, the giant LNG project lead by Novatek on the Gydan Peninsula in the north of Siberia. The deal was signed in the presence of the Russian and French Presidents.

French energy major Total announced it will not be in a position to continue and take any further commitment related to the South Pars 11 project, following the US withdrawal from the JCPOA, re-imposing the US sanctions that were in force before the JCPOA’s implementation. 

Total signed a Memorandum of Understanding with the Government of Oman to develop natural gas resources in Oman. This MoU covers both upstream and downstream businesses. Total and Shell will develop several natural gas discoveries located in the Greater Barik area on onshore Block 6.

French oil major Total and Google Cloud signed an agreement to jointly develop artificial intelligence solutions applied to subsurface data analysis for oil and gas exploration and production. The agreement focuses on the development of AI programs that will make it possible to interpret subsurface images.

Robots could soon be working autonomously alongside humans on a North Sea platform, as part of a new project from the Oil & Gas Technology Centre, Total and taurob, in partnership with Technische Universitaet Darmstadt. The 18-month project will develop and trial a mobile robot for autonomous operational inspection on Total’s facilities.