Exxon, Total Team Up

Exxon, Total Team UpExxon, Total Team Up

US oil company Exxon Mobil has acquired a 35% stake in an oil block off Uruguay's coast, teaming up with France's Total to spud the country's first offshore exploratory well, state oil firm ANCAP said. Total has been operating in Uruguay's Block 14 since 2012. The two firms will invest $200 million and begin drilling the well in the first half of 2016, Reuters reported.