South Sudan Offers Total Oil Block to Exxon, Kuwait Petroleum

LONDON - Exxon Mobil Corp. and Kuwait Petroleum Corp.'s Kufpec have "agreed in principal" to take over part of a giant oil block long held by Total SA, according to a top official in South Sudan's national oil company.

Total will keep a stake in the field.

"The block will be given to these three companies," he said. "They have accepted in principal."

Exxon said in a statement that it doesn't comment on potential opportunities or commercial decisions.

South Sudan said its decision was prompted in part by Total's failure to expedite exploration in the block, which it received more than 30 years ago.

Copyright (c) 2012 Dow Jones & Company, Inc.


Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies

Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Technical Coordinator
Expertise: Client Representative|Process Management|Technical Writing
Location: Houston, TX
Executive Assistant
Expertise: Executive|Secretarial or Administrative
Location: United States
Regional Manager - Saybolt
Expertise: Executive|Operations Management
Location: Linden, NJ
search for more jobs

Brent Crude Oil : $51.78/BBL 0.77%
Light Crude Oil : $50.85/BBL 0.83%
Natural Gas : $2.99/MMBtu 4.77%
Updated in last 24 hours