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Total gains further strength in the Gulf of Mexico

French oil company Total has made a deal with Chevron for deep-sea drillings in the Gulf of Mexico. Combined with the acquisition of Maersk Oil, this move gives the company a solid foothold in North America.

French oil major Total has been busy this fall. Last week the company announced acquisitions and partnerships with several industry peers that specialize in renewable energy, and in late August the company acquired Maersk Oil. Now, Total is entering a new partnership with US oil giant Chevron.

Total and Chevron are joining forces in deep-see drillings in the Gulf of Mexico. This concerns seven deep sea exploration areas with 16 fields. Total will participate in the fields with ownership stakes ranging from 25 to 40 percent.

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