Oil majors Total and Chevron have signed an agreement on exploration in the Gulf of Mexico.
Paris-headquartered Total said it would “capture” seven deepwater prospects operated by Chevron.
Total’s participation in the wells will be between 25% and 40%.
The first wells was spudded in late July on the Ballymore prospect in Mississippi Canyon.
Arnaud Breuillac, Total’s president of exploration and production, said: “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.
“As a continued effort to highgrade its portfolio, Total won six offshore exploration licenses in the August Lease Sale.”
Total’s Gulf of Mexico interests include a 17% stake in the Tahiti field, 33.33% of Chinook and 40% of North Platte with 40%.
As part of Total’s recently-announced acquisition of Maersk Oil, Total will also become a 25% partner in the Chevron operated Jack field.
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