Shell, Total Exchange Interests

Friday, November 18, 2005
Shell Exploration & Production announced today an agreement for a like kind exchange with Total E&P USA. Under this agreement, Shell will exchange its 17 percent non-operated interest in the deepwater Gulf of Mexico Tahiti field for Total's interests in natural gas assets in South Texas. The Tahiti field is operated by Chevron and located in Green Canyon blocks 596, 597, 640 and 641 in 4,100 feet of water, approximately 190 miles southwest of New Orleans. In exchange for its interest in Tahiti, Shell will acquire Total's operated interests in three natural gas fields and additional interests in a fourth field, now operated by Shell. With current net production of 107 million cubic feet equivalent per day, these fields are a significant addition to the portfolio bringing the net South Texas gas production to 300 million cubic feet equivalent per day. "Bringing these fields into our US gas portfolio provides us an immediate growth opportunity building on our demonstrated competitive cost structure and drilling and development expertise," said Marvin E. Odum, Executive Vice President - EP Americas, Shell Exploration & Production. "A key element of Shell's strategy is to add more integrated gas, and these assets are an excellent fit with other onshore properties in Texas and the Rockies." The transaction is expected to close in January of 2006 and is subject to, among other things, customary regulatory requirements and consents.
Maritime Reporter September 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds


Japan’s First ME-GI Engine Passes Factory Tests

The factory acceptance test (FAT) of the first ME-GI engine in Japan recently took place at the Tamano Works of Mitsui Engineering & Shipbuilding Co., Ltd. (MES),

Damen's Third Ferry for South Korea

All good things come in threes as Damen delivers the third vessel of the year, from the Damen Fast Ferry (DFFe) series to South Korean operators. Having already

Thyssen Taps Anil Group for Sub Bid

Diversified German conglomerate ThyssenKrupp AG has initiated talks to partner Anil Ambani-led ADAG in building up to 12 submarines in a contract expected to be worth Rs50,000 crore ($7.


Kruszewski Joins Braemar Engineering

Braemar Engineering, the specialist maritime engineering consultancy, today announced the appointment of Chis Kruszewski to the role of Senior Electrical Engineer in its Offshore,

RigNet Partners Inmarsat to Offer Fleet Xpress

RigNet, Inc., a global provider of remote managed offshore communications solutions, telecoms systems integration services and collaborative applications to the oil and gas industry,

Italy's Eni Arrives Arctic as Shell Departs

As Shell retreats from the Arctic, the Italian oil giant Eni is making final preparations for its own oil exploration venture in the Norwegian Arctic, reports the Guardian.

Maritime Contracts Maritime Security Naval Architecture Navigation Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2699 sec (4 req/sec)