Oryx has entered into a farmout agreement with Total for its 30% interest in the Haute Mer B exploration licence offshore Congo (Brazzaville) for a cash consideration of USD8 million. Total has an existing 34.6% alongside Chevron (20.4%) and SNPC (15%).
The farmout is effective from 1st January - Total will reimburse for any costs incurred year-to-date, estimated to be c.USD5 million. The deal is anticipated to close before the end of June and...
