Stock Monitor: Imperial Oil Post Earnings Reporting
LONDON, UK / ACCESSWIRE / February 07, 2018 / Active-Investors.com has just released a free research report on TOTAL S.A. (NYSE: TOT). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=TOT as the Company's latest news hit the wire. On February 05, 2018, the Company announced that it has entered into an agreement with Qatar Petroleum to sell 25% interest in the Exploration Block 11B/12B, in South Africa. The deal is expected to further strengthen Total's existing relationship with Qatar Petroleum. The financial details of the deal were not shared by both companies. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Details of the Exploration Block 11B/12B
Total's Exploration Block 11B/12B is in the Outeniqua Basin which is approximately 175 kilometers off the southern coast of South Africa. These two blocks cover an area of 19,000 square kilometers with water depths ranging from 200 to 1,800 meters. The deal is subject to receiving all the requisite regulatory approvals.
Once the approvals are in place, Total will continue with the exploration of Block 11B/12B in partnership with other stakeholders. Total will be the majority partner with 45% interest, Qatar Petroleum will have 25% interest, CNR International will have 20% interest and Main Street will have the balance 10% interest. Total will also continue with its role as the operator of the block.
Commenting on the stake sale of Block 11B/12B to Qatar Petroleum, Arnaud Breuillac, President - Exploration & Production at Total, said:
"This transaction enhances the partnership on Block 11B/12B in preparation for the high potential exploration well scheduled to be drilled on the block at the end of 2018. Total is delighted to broaden its long-standing relationship with Qatar Petroleum and combine efforts to explore this promising region offshore South Africa."
Saad Sherida Al-Kaabi, President and CEO of Qatar Petroleum, stated:
"We are pleased to join our long-time partner Total in exploration activities in this frontier block offshore South Africa. This is an important milestone in our strategy to expand our international upstream footprint. We hope that the exploration efforts are successful, and we look forward to collaborating with Total, CNR, Main Street, and the South African authorities on this project."
Total-Qatar Petroleum longstanding relationship
Total has been doing business in Qatar for over 80 years and had partnered with Qatar Petroleum for the development of various world-class LNG, refining and petrochemical projects. Total's business in Qatar include 20% interest in the upstream part of Qatargas 1 and 10% stake in Qatargas 1; 24.5% stake in Dolphin Energy; and 16.7% interest in Qatargas 2 train 5. Additionally, Total acquired 30% interest in Al-Shaheen concession. Total and Qatar Petroleum have formed several joint ventures including, 10% stake in both Laffan Refinery 1 and Laffan Refinery 2, 20% stake in Qapco and 48.6% interest in Qatofin petrochemical plants. Total and Qatar Petroleum also have partnered on projects outside Qatar, this includes Total E&P Congo in Africa where Qatar Petroleum owns 15% stake.
Total acquires two exploration licenses in Guyana Basin
In a separate announcement, Total also shared that it has acquired two exploration licenses in the prolific Guyana Basin. The Company has acquired a 35% working interest in the Canje Block, 25% working interest in the Kanuku Block. The Company already holds an option to purchase a 25% working interest in the Orinduik Block (also in Guyana Basin) as per an agreement signed in September 2017. Once all regulatory approvals are in place, Total will own exploration rights for an area covering over 12,000 square kilometers in the Guyana Basin.
About Qatar Petroleum
Qatar Petroleum is a state-owned integrated oil company responsible for the sustainable development of the oil and gas industry in Qatar and beyond. Qatar's business covers end-to-end of the oil and gas value chain locally, regionally, and internationally. Its operations include exploration, refining, production, marketing, and sales of oil and gas, liquefied natural gas (LNG), natural gas liquids (NGL), gas to liquids (GTL) products, refined products, petrochemicals, fertilizers, steel, and Aluminium.
About Total SA
Total is the world's fourth-largest oil and gas Company as well as a major integrated player in low-carbon energies. The Group discovers, produces, processes, sells and markets energy in a variety of forms, all the way to end-customers. It has operations in over 130 countries and is supported by a team of over 98,000 employees. On an average the Company produces 2.5 million barrels of oil equivalent (Mboe) per day and transports 131 million metric tons of crude oil and refined products.
Total S.A.'s sales in FY16 was $149.7 billion and its adjusted net income was $8.3 billion.
Stock Performance Snapshot
February 06, 2018 - At Tuesday's closing bell, TOTAL's stock rose 2.84%, ending the trading session at $55.72.
Volume traded for the day: 6.03 million shares, which was above the 3-month average volume of 1.56 million shares.
Stock performance in the previous six-month period – up 7.73%; past twelve-month period – up 10.60%; and year-to-date - up 0.80%
After yesterday's close, TOTAL's market cap was at $144.19 billion.
Price to Earnings (P/E) ratio was at 17.58.
The stock has a dividend yield of 5.28%.
The stock is part of the Basic Materials sector, categorized under the Major Integrated Oil & Gas industry. This sector was up 1.8% at the end of the session.
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