Subscribe to our news feedShell buys stakes in French Guiana project, could lead to oil and gas recruitment
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Published on Tuesday 17th November 2009
Shell has announced the acquisition of stakes in a project in French Guiana, which could lead to oil and gas recruitment opportunities in the area. The energy giant has agreed to purchase a 33 per cent share in Tullows Guyane Maritime Permit. As part of the accord, Shell will have the opportunity to buy a further 12 per cent. The amount of money that changed hands was not revealed. Angus McCross, head of exploration at Tullow, spoke to Reuters about the development. He explained the firm is looking at negotiating with another company over the acquisition of stakes in the project, with a deal expected by the end of the year. According to the news provider, the corporation initially bought a 97.5 per cent interest in the licence with the hope that the geological similarities with its Jubilee field would yield comparable results. "Its an endorsement of the likelihood of the Jubilee play extending across the Atlantic," Mr McCross commented. Shell recently said it planned on rerouting one of its pipelines off the coast of Ireland, which may lead to oil and gas recruitment in the area. 
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