Total Goes To Kazakhstan, BP Working on Gulf Settlement: Energy Biz Report
Total (NYSE:TOT) farms into a pair of blocks through agreements with Nurmunai Petrogas in Kazakhstan, by buying 75 percent interests in each of the onshore North and South blocks and thus obtaining operatorship. This move takes Total’s upstream operations in that country beyond its Caspian Sea assets.
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Ensco (NYSE:ESV) announces that all of its 10 rigs in Brazil now have term contracts with no early termination or termination for convenience provisions, which counters chatter that pressed its shares during Thursday trading. For emphasis, the firm said that a recent contract signed with Petrobras (NYSE:PBR) for one rig is contracted through April of 2014.
BP (NYSE:BP) and the legal team representing victims of the 2010 Gulf of Mexico oil spill are requesting that a judge approve a proposed $7.8 billion partial resolution of claims, while lawyers for thousands of plaintiffs asks it to modify the agreement. The latter group contends that the BP settlement in March underpays some claimants and unfairly excludes others.