Total SA has agreed to sell its 20% interest in OML 138 offshore Nigeria, where production began from Usan oil field in February, to a wholly owned subsidiary of China Petrochemical Corp. (Sinopec) for $2.5 billion cash before closing adjustments (OGJ Online, Feb. 24, 2012).

Targa Resources Partners LP plans to buy Saddle Butte Pipeline LLC’s Williston basin crude oil pipeline and terminal system along with its natural gas-gathering and processing operations for $950 million.

SandRidge Energy Inc., Oklahoma City, is contemplating the sale of its Permian basin assets although any sale will exclude assets associated with SandRidge Permian Trust.

Royal Dutch Shell PLC has acquired Murphy Schiehallion Ltd.’s 5.9% interest in Schiehallion oil field in the West of Shetlands area offshore the UK, raising its interest to 55%.

BP PLC on Nov. 15 announced resolution of criminal and securities claims by the US government against the supermajor related to the April 2010 deepwater Macondo well blowout, which resulted in a massive spill off Louisiana in the Gulf of Mexico.

The US Federal Trade Commission approved Kinder Morgan Inc.’s application to sell certain natural gas pipeline and other assets to Tallgrass Energy Partners LP.

A subsidiary of Vermilion Energy Inc. of Calgary agreed to buy ZaZa Energy Corp.’s French assets for $85.5 million in a transaction expected to close by Dec. 31, subject to customary closing conditions.

BASF AG and Gazprom have agreed to an asset swap covering two blocks in Urengoi gas and condensate field in Russia and gas trading and storage businesses in Europe.

Murphy Oil Corp. has agreed to buy Shell Canada Energy’s interests in the Seal Lake area of northern Alberta, where wholly owned subsidiary Murphy Oil Co. Ltd. already holds producing interests and is testing polymer flooding and steam stimulation.

Privately owned LLOG Exploration Co. LLC of Covington, La., and Blackstone Energy Partners formed a long-term, strategic partnership in which the two committed to invest more than $1.2 billion to expand and accelerate LLOG’s offshore operations in the Gulf of Mexico.