Total SA Archives - Panorama Insurance Brokers

Total drops operator role for five exploration blocks in Brazil

French multinational oil and gas company Total said on Monday it had notified its partners on August 19 about its resignation from its role of operator for five exploration blocks, located in the Foz do Amazonas Basin, 120 kilometers offshore Brazil. These exploration blocks are referenced as FZA-M-57, FZA-M-86, FZA-M-88, FZA-M-125 and FZA-M-127.  “Total has informed… Read More

Apache’s Block 58 offers most promise for Suriname resource – Morgan Stanley

US multinational investment bank and financial services company Morgan Stanley says despite a wave of lease awards beginning in 2010, no commercial oil resource had been discovered in offshore Suriname prior to Maka Central-1, Apache’s first exploration well on Block 58. Now, with the success of three discoveries, the last of which is seen as… Read More

Total lands $15 billion financing commitment for Mozambique project

(Bloomberg) – A Total SA-led liquefied natural gas project in Mozambique will receive commitments for about $15 billion of financing at a signing scheduled in June, according to people familiar with the matter. The first and most significant phase of the financing commitment for the LNG project — which will be Africa’s biggest private investment… Read More

Total divests $400M in Brunei, Sierra Leone and Liberia assets

French multinational oil company Total has announced that in line with its strategy of actively managing its asset portfolio and its objective to divest $5 billion during the period 2019-2020, it is pursuing the divestments of several non-core assets in both Exploration-Production (Brunei) and Marketing & Services (Sierra Leone and Liberia). “These divestments represent a… Read More

BREAKING: Apache, Total make second discovery offshore Suriname

Apache Corporation (NYSE, Nasdaq: APA) and Total S.A. (NYSE: TOT) on Thursday announced a significant oil discovery at the Sapakara West-1 well drilled offshore Suriname on Block 58. The well was drilled using the Noble Sam Croft with Apache as operator holding a 50% working interest and Total holding a 50% working interest. Sapakara West-1 was drilled… Read More

Total targeting up to 3 Guyana wells this year despite heavy crude encounters

Patrick Pouyanne, Chief Executive – Total French oil company Total expects two to three new offshore wells to be drilled in Guyana this year, Chief Executive Patrick Pouyanne says. This is despite encountering heavy crude at two prospects last year, which brought into question their commerciality, and the possibility of near-term future exploration offshore the… Read More