Total, ExxonMobil swap interests offshore Norway

Total SA and ExxonMobil Corp. have agreed to swap interests in producing and undeveloped North Sea acreage offshore Norway.

Total said it will transfer to ExxonMobil a 5.6% interest in the PL089 license, a 2.52% interest in Sygna oil field, a 2.8% interest in Statfjord East oil field, and a 6.18% interest in Snorre oil field.

In exchange it will receive a 4.7% interest in Oseberg oil field and a 4.33% interest in the Oseberg transportation system along with a 100% interest in the PLO29c license and a 30% interest in the PLO29b license, which cover part of the undeveloped Dagny oil and gas discovery.

Total will make a “minor cash compensation” to ExxonMobil.

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