By OGJ editors
HOUSTON, Jan. 10 -- Total E&P Norge has signed an agreement with ExxonMobil Exploration & Production Norway to acquire ExxonMobil's 30% interest in the PL211 area 200 km offshore in 400 m of water in the Norwegian Sea.
The acquisition, subject to approval of Norwegian authorities, will raise Total's participation to 50% in the Victoria discovery, which lies in the PL211 area.
Total plans to propose that it become operator of the license. Partners are Statoil, 30%, and Eni Norge, 20%.
As part of the deal, Total will transfer 5% of its interest in Tyrihans oil and gas field in the Norwegian Sea to ExxonMobil Corp. The Norwegian Ministry of Petroleum and Energy recent approved development of the field (OGJ Online, Dec. 5, 2005). The transfer drops Total's stake in Tyrihans to 21.51% from 26.51%.
