Total snaps up two exploration licences off the coast of Guyana

Total news

French energy giant Total has confirmed the acquisition of two offshore exploration licences in Guyana’s Canje Block and Kanuku Block.

Once approved by the relevant authorities in the region, it will take Total’s exploration rights to 12,000 square kilometres in the Guyana Basin.

Total has acquired a 35% working interest in the Canje Block alongside a 25% working interest in the Kanuku Block, the latter deal signed with operator Repsol who hold 37.5% and Tullow Oil who also hold 37.5%.

Total has also confirmed that it has the further option to  buy a 25% working interest in the Orinduik Block with an affiliate of Canadian company Eco Atlantic Oil & Gas Ltd, who will retain a 15% interest following exercise of the option, alongside operator Tullow (60%).

Arnaud Breuillac, president, exploration & production at Total, said: “Total is very pleased with this significant entry in the prolific Guyana Basin.The Canje, Kanuku and Orinduik blocks are located in a very favorable petroleum context, evidenced by the Liza discovery in 2015. Acquiring interests in these highly prospective licenses is in line with the new exploration strategy in place since 2015.”

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