Total enters Anchor discovery in Gulf of Mexico

  • Business & Finance

French oil company Total has further increased its Gulf of Mexico footprint by entering what it claims to be one of the most significant recent discoveries in the U.S. Gulf of Mexico.

Total has signed an agreement with Samson in order to acquire Samson Offshore Anchor, LLC, which holds a 12.5% interest in four blocks covering the Anchor discovery in the U.S. Gulf of Mexico.

The deal also includes a 12.5% interest in the nearby exploration block Green Canyon 761, where Total already has a 25% interest, Total informed on Wednesday.

Arnaud Breuillac, President Exploration & Production at Total, said: “The entry in the Anchor discovery further increases Total’s footprint in deepwater Gulf of Mexico. It follows our entry in seven exploration prospects located in the promising Wilcox (Central GoM) and Norphlet (Eastern GoM) plays thanks to an agreement signed with Chevron last September, and in the Jack field where the group will acquire a 25% interest as part of the Maersk Oil deal.”

Discovered in the Wilcox play in 2014, Anchor is located approximately 225 kilometers off the coast of Louisiana in more than 1,500 meters of water. Additional prospective resources have been identified in the Anchor vicinity, strengthening the potential of the asset.

Anchor is operated by Chevron (55%) alongside Cobalt (20%), and Venari (12.5%).

In the Gulf of Mexico, Total focuses on the deep water domain with participations in two producing fields, Tahiti with 17%, operated by Chevron, and Chinook with 33.33%, operated by Petrobras, as well as in the discovery of North Platte with 40%, operated by Cobalt International Energy. As part of the acquisition of Maersk Oil company, Total will become a 25% partner in the Chevron operated Jack field. Total also holds participations in over 160 exploration leases.

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