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.