By David SachsTotalEnergies and Vantage Drilling International are forming a joint venture that will result in co-ownership of an oil-exploration ship. The French energy company said Tuesday that it has a binding deal with the Texas-based oil firm to pay $199 million for a 75% interest in the venture owning the Tungsten Explorer drill vessel. Vantage will own the remaining 25% and operate the ship for 10 years, TotalEnergies said.

Source: Wall Street Journal February 07, 2024 02:35 UTC