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.
WHAT DO YOU THINK?
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.
Operates 13 Offshore Rigs
- ExxonMobil Says Julia, Hadrian South Operations Back To Normal After Nate (Oct 10)
- Iraq's Talks with Exxon on Southern Oilfields in Final Stages-Minister (Oct 09)
- U.S. Gulf Oil Producers Start Evacuating Staff Ahead of Tropical Storm Nate (Oct 05)
Company: Total S.A. more info
- Total CEO: US Shale Oil Industry To See Wave Of Investment (Oct 18)
- Total's CEO Says Will Try To Move Ahead With Iran Gas Project (Oct 17)
- Total Expands Presence in Mexico (Oct 12)
Company: Kuwait Foreign Petroleum Exploration Co. (KUFPEC) more info
- Shell Cancels Sale Of Thai Gas Field Stakes To Kuwait's KUFPEC (Oct 04)
- PETRONAS Awards SK410B PSC Offshore Malaysia to PTTEP-led JV (Jul 22)
- Chevron Signs Up Australia's Alinta To Buy Gas From Wheatstone (Apr 19)