26th Jan 2007 12:32
Total S.A.26 January 2007 Angola: significant oil discovery in deep water Block 14 Paris, January 26, 2007 - Total announces that it has made a new significant oildiscovery in deep-water Block 14, within the Lower Congo Basin, offshore Angola.Total holds a 20% interest in Block 14 alongside Cabinda Gulf Oil CompanyLimited, (31%) Sonangol, P.P (20%), Eni (20%) and Galp (9%). The Lucapa-1 discovery well was drilled in 1,201 metres of water to a totalvertical depth of 3,340 metres and encountered more than 85 metres of oil inMiocene age sands. The well tested 24-degree API gravity oil from highpermeability sand in the main target interval. The discovery will be followed byfurther appraisal drilling in addition to geologic and engineering studies toappraise the field and assess its potential reserves. The Lucapa discovery isthe 10th exploration discovery made in Block 14 since 1997. Total in Angola Total is present in Angola since 1953 and held end 2006 interests in sixproduction permits, three of which it operates (Blocks 17, 3 and FS/FST) andthree it does not (Blocks 0, 14 and 2) and three exploration permits, one ofwhich it operates (Block 32) and two it does not (Blocks 31 and 33). Deep-offshore Block 17 is Total's major asset in Angola. It is composed of fourmajor zones (Girassol and Dalia, which are in production, Pazflor which is inthe final bidding process before sanction, and CLOV, a fourth major productionarea, based on Cravo, Lirio, Orquidea and Violeta discoveries, currently beingstudied). The production of Block 17, with Girassol and Dalia structures, isexpected to reach nearly 500,000 barrels of oil per day by summer 2007. * * * * Total is one of the world's major oil and gas groups, with activities in morethan 130 countries. Its 95,000 employees put their expertise to work in everypart 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:
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