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Venezuela rejects BP offer for Total’s Plataforma Deltana stake

Venezuela’s oil ministry has rejected an offer from BP last month to buy Total’s 49% stake in Block 4 of the offshore Plataforma Deltana gas field
By Staff reporter 27 November 2018 Americas / Exploration & Production 0 33471

Venezuela’s oil ministry has rejected an offer from BP last month to buy Total’s 49% stake in Block 4 of the offshore Plataforma Deltana gas field, which straddles Venezuela’s maritime border with Trinidad and Tobago, Reuters reported on Monday.

BP owns the rights to the Trinidadian side of the field, and the acquisition of Total’s stake would have allowed BP to supply its growing operations in Trinidad.

The ministry told the parties that the block’s reserves needed to be re-estimated, an...