On 23 April 2018, it was reported that Oryx and Total had entered into a farmout agreement providing the transfer of Oryxâs 30% interests in the Haute Mer B permit to Total. The deal is subject to waiver of pre-emptive rights held by other partners and the approval of the government of the Republic of Congo.  Subject to closing, Oryxâs interests will be transferred for a cash consideration of USD 8 million. Total agreed to reimburse Oryxâs costs incurred between 1 January and the date of closing, which will result in a further payment of about USD 5.3 million.  The deal is expected to be closed before the end of June 2018 and the transfer will be deemed to be made with effect from January 2018.  Total E&P Congo was granted operatorship of the permit on 28 June 2013. Working interests are split between Total (34.62 %, operator), Oryx Petroleum (30%), Chevron (20.38 %) and SociÃ©tÃ© Nationale des PÃ©troles du Congo (SNPC) with 15%.  Background information  Â The Haute Mer B block was carved out from Total's former 2,175 sq km Haute Mer permit, which expired on 31 December 2002 and was later split up into three sub-blocks, Haute Mer "A", "B" and "C". The contract was signed in July 2009.   Total plans to drill the Cretaceous carbonate Kaki Main Prospect in the southern sector of Haute Mer B permit. Partner Oryx Petroleum has reported that Kaki Main prospective resources are estimated at 121 MMbo unrisked gross (39 MMbo risked). Haute Mer B permit holds multiple large prospects with prospective oil resources of 650 MMb.
On 23 April 2018, it was reported that Oryx and Total had entered into a farmout agreement providing the transfer of Oryxâs 30% interests in the Haute Mer B permit to Total. 