UK's Tullow Oil plc announced that it agreed to farm-down 21.57% of its 33.33% interests in Exploration Areas 1, 1A, 2 and 3A in Uganda to Total E&P Uganda B.V. (Total) for a total consideration of $900m.
Total launched the production from the Moho Nord deep offshore project, located 75 km offshore Pointe-Noire in the Republic of the Congo, The project has production capacity of 100,000 b/d.
Tarek El Molla met with delegations from several international oil companies, including US-based Halliburton, French Total and the French Institute of Petroleum, to discuss expanding investment scope in Egypt.
The US-based ExxonMobil Corporation is in secret talks with Juba to buy a stake in South Sudan’s vast untapped oil deposit, according to a senior-level government source familiar with the negotiations.
Total intends to make final investment decision on 10 oil and gas production projects in the next 18 months in various countries including Nigeria, Angola.
French oil major Total plans to make a final investment decision (FID) on a $2b gas project in Iran by the summer, but the decision hinges on the renewal of US sanctions waivers.