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October 11, 2017updated 25 Oct 2017 8:49am

Total signs deal with ONAP to explore offshore prospects in West Africa

Total has signed a technical evaluation agreement with the National Office of Petroleum of Guinea (ONAP) to study deep and ultra-deep offshore areas located off the coast of Guinea Conakry.

Total has signed a technical evaluation agreement with the National Office of Petroleum of Guinea (ONAP) to study deep and ultra-deep offshore areas located off the coast of Guinea Conakry.

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Under the agreement, Total will evaluate the potentiality of the basin that includes an area of about 55,000km² by assessing existing data.

After one year, the group will choose three licences to start an exploration programme.

Total Exploration for production senior vice-president Kevin McLachlan said: “By taking this position on a new under-explored area, Total pursues its exploration strategy targeting deep offshore prospective basins.

“Therefore, Total has the opportunity to evaluate a very large area, located in an extension of the prolific Mauritania/Senegal basin where we already are.

“Total has the opportunity to evaluate a very large area, located in an extension of the prolific Mauritania/Senegal basin where we already are.”

“This will allow us to capitalise on our know-how and experience acquired in West Africa.”

Total will also provide training to the ONAP staff to develop their technical skills with regard to exploration and production.

The company operates its marketing and services activities in Guinea through its affiliate Total Guinée, which is also engaged in aviation activities operated through the SOMCAG depot.

The group owns a retail network of 150 service stations along with a 47% interest in SGP, the entity managing the country stocks.

Last month, Total’s another subsidiary Total E&P USA signed an agreement to explore seven Chevron USA-operated prospects in the deepwater Gulf of Mexico.

The agreement covers 16 blocks.

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2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

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