25th Jul 2006 16:12
Total S.A.25 July 2006 Oil Discovery in the Moho-Bilondo Permit in the Republic of the Congo Paris, July 25, 2006 - Total (operator, 53.5%) announces an oil find in theMoho-Bilondo exploration permit, located around 80 kilometres offshore theRepublic of the Congo, in water depths ranging from 600 to 900 metres. Drilled to a total vertical depth of 2,269 metres, the Mobi Marine 2 wel1identified two new oil-bearing structures at the base of the Upper Miocene overa combined thickness of around 30 metres. This discovery is the first step in aprocess designed to add further reserves to the current Phase 1 development ofMoho Bilondo. The new resources are being appraised and a development plan isbeing prepared. Launched in late August 2005, the initial Phase 1 development plan for the MohoBilondo project comprises 12 subsea wells tied back to a floating productionunit (FPU) whose output - around 90,000 barrels per day at peak - will beexported to the Djeno terminal. The field is scheduled to come on stream in2008. Total E&P Congo's partners in Moho-Bilondo are Chevron Overseas Congo Ltd.(31.5%) and Societe Nationale des Petroles du Congo (SNPC -15%). ****** Total is one of the world's major oil and gas groups, with activities inmore than 130 countries. Its 95,000 employees put their expertise to work inevery part of the industry - exploration and production of oil and natural gas,refining and marketing, gas trading and electricity. Total is working to keepthe world supplied with energy, both today and tomorrow. The Group is also afirst rank player in chemicals. www.total.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
TTA.L