Total Collects Stake in UK's Tobermory Discovery
Total E&P UK has entered into agreements with Mobil North Sea LLC, Marathon Oil U.K., Ltd. and Anadarko North Sea Holding Company Limited to acquire a 43.75% stake in UK License No. P967, which includes the Tobermory discovery. Total E&P UK will become the operator of the license.
The Tobermory gas reservoir was discovered in 1999 by well 214/4-1. It is located in 1,600 meters of water depth and situated 175 kilometers North-West of the Shetland Isles.
This acquisition is in line with Total's strategy of developing its position in the West of Shetland basin around its Laggan and Tormore operated discoveries. The development studies for these discoveries are being finalized and new gas export infrastructure to the St. Fergus gas terminal is planned, which Tobermory could utilize.
With Tobermory, Total reaffirms its commitment to actively pursuing exploration and contributing to the development of the United Kingdom's oil and gas resources.
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