Friday, March 31, 2023

Total clinches GOM deal, acquires Samson Offshore Anchor, LLC

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French oil giant Total, which is said to be eyeing Guyana’s offshore Orinduik Block, has reached a deal to acquire Samson Offshore Anchor, LLC, which holds a 12.5% interest in four blocks covering the Anchor discovery, one of the most significant recent discoveries in the Gulf of Mexico in the United States.

According to Total, the deal also includes a 12.5% interest in the nearby exploration block Green Canyon 761, where the company already has a 25% interest.

“The entry in the Anchor discovery further increases Total’s footprint in deepwater Gulf of Mexico. It follows our entry in seven exploration prospects located in the promising Wilcox (Central GoM) and Norphlet (Eastern GoM) plays thanks to an agreement signed with Chevron last September, and in the Jack field where the Group will acquire a 25% interest as part of the Maersk Oil deal”, Arnaud Breuillac, President Exploration & Production at Total, stated in the release.

Anchor was discovered in the Wilcox play in 2014 and is located approximately 225 kilometers off the coast of Louisiana in more than 1,500 meters of water. The company said that additional prospective resources have been identified in the Anchor vicinity, strengthening the potential of the asset. Anchor is operated by Chevron (55%) alongside Cobalt (20%), and Venari (12.5%).

Eco (Atlantic) Oil & Gas Ltd. In September 2017 announced that its subsidiary, Eco Atlantic (Guyana) Inc. had entered into an option agreement on its Orinduik Block, offshore Guyana, with Total E&P Activités Pétrolières, a wholly owned subsidiary of Total SA. The Option Agreement provides Total with an option to acquire a 25% Working Interest in the Orinduik Block from Eco Guyana which currently holds a 40% Working Interest in Orinduik, and Tullow, the Operator, holds the remaining 60%.

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