1st Aug 2005 13:37
Total S.A.01 August 2005 Nigeria: Further extension of the Usan discovery and approval of the field development plan by NNPC Paris, August 1st, 2005 - Total announces that its Nigerian operatingsubsidiary, Elf Petroleum Nigeria Ltd. (EPNL) has successfully drilled twoappraisal wells in the Usan field in deepwater Oil Prospecting License (OPL)222, offshore south eastern Nigeria. The Usan field is located 110 kilometres offshore in water depths ofapproximately 800 metres. The field was discovered in 2002. In 2004, a westernUsan extension was confirmed by the drilling of Usan 5 and 6. This year, Usan 7and 8 confirmed an eastern extension of the Usan field. The Field Development Plan has been approved by NNPC, the concessionaire of thelicence. Additional approval will be sought from the Department of PetroleumResources in the near future. The plan features a development of the Usan fieldwith 35 subsea wells connected to a 2 million barrel capacity floatingproduction storage and offloading (FPSO) by subsea lines and risers. Theprocessing capacity is around 150,000 barrels of oil per day. First oil isplanned by 2010. NNPC is concessionaire for OPL 222 under a Production Sharing Contract operatedby Elf Petroleum Nigeria Ltd. (20%), in partnership with Chevron PetroleumNigeria Ltd. (30%), Esso Exploration and Production Nigeria (Offshore East) Ltd.(30%) and Nexen Petroleum Nigeria Ltd. (20%). Present in Nigeria since 1962, Total's equity production was 271,000 barrels ofoil equivalent per day in 2004. The Group recently launched the development ofthe deep offshore Akpo field which will enter into production late 2008 at aplateau of 225,000 barrels of oil equivalent per day. Total also holds a 15%partnership interest in the Bonny gas liquefaction plant, where train four willcome on stream by the end of this quarter and train five before the end of thisyear. ****** Total is the fourth largest oil and gas company in the world with operations inmore than 130 countries. Total's activities cover the whole energy chain of thepetroleum industry: exploration, oil and gas production, refining and marketing,trading and power generation. The Group is also a major player in chemicals.Total has more than 111,000 employees worldwide. More information can be foundon the company's website: www.total.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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