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French Oil Group Total Reports Successful bid for Exploration Rights in US - ASHARQ AL-AWSAT English Archive 2005 -2017
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PARIS (AFP) – French oil group Total has said that it had made the highest offer for 20 deepwater exploration blocks in US waters in the Gulf of Mexico and would win the tender.

The bids, for 100-percent ownership of rights to the areas, now require the approval of the US authorities, namely the Minerals Management Service.

Total said Thursday it considered the blocks, each covering 5,760 acres (2,304 hectares), to have “high long-term potential”, but did not disclose financial details.

“Total announces that its wholly-owned subsidiary, Total EetP USA, was the highest bidder for 20 deepwater exploration blocks in the western Gulf of Mexico Lease Sale 200.

“Total EetP USA will operate these blocks with a 100-percent working interest.”