Total expands Gulf of Mexico foothold with Chevron deal

French oil major Total has said it will “capture” 7 prospects operated by Chevron in in the deepwater Gulf of Mexico. The agreement covers 16 blocks.

According to Total, the associated prospects are located in two promising plays and areas of the GoM: Wilcox in Central GoM next to the Anchor discovery, and Norphlet in Eastern GoM nearby to the Appomattox discovery.

Total’s participation in these wells will be between 25% and 40%.The first of these wells was spudded late July on the Ballymore prospect in Mississippi Canyon.

“This agreement, together with the recently announced participation in the Jack field as part of the Maersk Oil acquisition, increases Total’s footprint in the USA GoM where it can apply its exploration expertise and deepwater technologies. Total values Chevron’s performance as a GoM deepwater company and this agreement expands a successful co-ownership already in place on the Tahiti field”, stated Arnaud Breuillac, President Exploration & Production. “

As a continued effort to highgrade its portfolio, Total won six offshore exploration licenses in the August Lease Sale.”

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