Total buys more stakes in oil blocks offshore Guyana

Total buys more stakes in oil blocks offshore Guyana

French supermajor Total has bought stakes in more oil blocks offshore Guyana, according to Reuters.

Total is buying a 35% working interest in the Canje Block, in which operator ExxonMobil has a 35% stake and the other 30% is shared by Canada’s JHI Associates and Guyana-based Mid-Atlantic oil & Gas.

It has also purchased a 25% working interest in the Kanuku Block in which Repsol and Tullow each have 37.5% shares.

And it added a 25% working interest in the Orinduik Block along with Tullow Oil which has 60% and Canada’s Eco Atlantic Oil & Gas with 15%.

Guyana gained world attention in 2015 with ExxonMobil’s massive discovery of high-quality oil reserves off the South American country. Estimates put Guyana’s potential reserves at 2 billion barrels.

Donal Scully

With 28 years experience writing and editing for newspapers in the UK and Hong Kong, Donal is now based in California from where he covers the Americas for Splash as well as ensuring the site is loaded through the Western Hemisphere timezone.

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