Total Finalizes its Entry in OPL 247 in Nigeria

Source: www.gulfoilandgas.com 7/30/2007, Location: Africa

Total announced that its fully-owned Nigerian subsidiary, Elf Petroleum Nigeria Limited (EPNL), has finalized the acquisition of a 36% interest in deep offshore Oil Prospecting Lease (OPL) 247, operated by Chevron.

OPL 247 lies around 150 kilometres offshore southeast Nigeria in water depths of 1,000 to 1,500 metres. It is located near the main deep offshore operations currently being developed by Total. 3D seismic data has been collected and is being interpreted to prepare drilling of an initial well.

This acquisition extends Total’s acreage deep offshore Nigeria, where it has acquired extensive expertise operating five blocks near OPL 247. These include OML 130 (Akpo and Egina), OPL 221, OPL 222 (Usan) and OPL 223. Total and its partners will benefit from the Group’s experience in the area and from potential significant synergy in future exploration work and developments.


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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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