Anglo-Dutch supermajor Shell has bought out Total’s stake in a block off Brunei in a deal valued at $300 million, writes Eoin O'Cinneide.
Shell has agreed to purchase the French supermajor’s subsidiary Total E&P Deep Offshore Borneo, which holds an 86.95% interest in Block CA1.
The block, which extends over 5850 square kilometres, is situated around 100 kilometres off the coast of Brunei, on the island of Borneo.
