Total stops drilling offshore French Guiana after failed to strike oil

FILE PHOTO: The logo of French oil giant Total is seen at La Defense business and financial district in Courbevoie, near Paris, France. May 16, 2018. REUTERS/Charles Platiau - Copyright Charles Platiau(Reuters)

By Reuters

Published on 28/02/2019 - 19:04•Updated 26/04/2024 - 04:44

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PARIS (Reuters) - French oil major Total said on Thursday it would give up its licence to drill off the coast of French Guiana after failing to find oil and gas in the French South American territory.

"It is with regret that we conclude the results do not confirm the oil potential of the area," the company said in a statement. "We will therefore give up our licence."