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European oil giants Total and Statoil announced Wednesday that they completed a 60 percent stake in the North Platte project in the Gulf of Mexico, adding to the company's portfolio
of deep-sea operations in the United States.
The $339 million acquisition was completed in a bankruptcy auction of some assets of Cobalt International Energy, which took place
on March 6.
Statoil now owns ?? With North Platte's 40 percent stake, Total increased its 40 percent stake to 60 percent and took a majority stake
.
The North Platte Project covers four exploration areas in the Garden Banks area, 275 km (171 mi)
off the Louisiana coast.
The field has now been fully assessed
through three wells and three side drills.
Statoil said the "premium" asset, with low carbon dioxide emissions, fits well with the company's existing U.
S
.
offshore portfolio.
Norwegian experts have interests in eight fields and two development projects in the U.
S.
Gulf of Mexico that will generate 110,000 barrels of oil equivalent (BOE/d)
per day.
Total bid at the auction amounted to approximately $300 million, which included a 20% interest in the Anchor field and 13 offshore exploration blocks
mainly operated by France's Total.
The purchase of assets "under particularly attractive conditions" will enhance the company's portfolio
in the Gulf of Mexico.
Last year, Total's U.
S.
production reached 123,000 b/d
.
European oil giants Total and Statoil announced Wednesday that they completed a 60 percent stake in the North Platte project in the Gulf of Mexico, adding to the company's portfolio
of deep-sea operations in the United States.
The $339 million acquisition was completed in a bankruptcy auction of some assets of Cobalt International Energy, which took place
on March 6.
Statoil now owns ?? With North Platte's 40 percent stake, Total increased its 40 percent stake to 60 percent and took a majority stake
.
The North Platte Project covers four exploration areas in the Garden Banks area, 275 km (171 mi)
off the Louisiana coast.
The field has now been fully assessed
through three wells and three side drills.
Statoil said the "premium" asset, with low carbon dioxide emissions, fits well with the company's existing U.
S
.
offshore portfolio.
Norwegian experts have interests in eight fields and two development projects in the U.
S.
Gulf of Mexico that will generate 110,000 barrels of oil equivalent (BOE/d)
per day.
Total bid at the auction amounted to approximately $300 million, which included a 20% interest in the Anchor field and 13 offshore exploration blocks
mainly operated by France's Total.
The purchase of assets "under particularly attractive conditions" will enhance the company's portfolio
in the Gulf of Mexico.
Last year, Total's U.
S.
production reached 123,000 b/d
.
