21st May 2007 11:26
Total S.A.21 May 2007 Two further oil discoveries on Block 32, in the Angolan ultra deep offshore Paris, May 21, 2007 - Sociedade Nacional de Combustiveis de Angola (Sonangol)and Total E&P Angola, a wholly owned subsidiary of Total, announce two new oildiscoveries with the tenth and eleventh exploration wells drilled on Block 32 inthe ultra deep waters of the Angolan offshore. Drilled in a water depth of 1,594 metres, the Cominhos-1 well encountered Upperand Lower Oligocene oil bearing reservoirs. The well was tested from a selectedLower Oligocene interval and produced at a rate of 6,258 barrels per day of oil32degrees API. This discovery is located in the north-eastern part of Block 32,approximately 18 kilometres north of the Caril-1, discovery made in 2006. Drilled in a water depth of 1,806 metres, the Louro-1 well found both Mioceneand Oligocene oil bearing reservoirs. This discovery is located in the Southernpart of Block 32, approximately 4.5 kilometres west of the Salsa-1 discoverymade in 2006. Complementary technical studies are being carried out to fully evaluate thesepromising drilling results, and further exploration drilling is underway orplanned across the block. Sonangol is the concessionaire of Block 32. Total E&P Angola (Block 32) Limitedholds a 30% interest as Operator. Other partners in Block 32 are Marathon OilCompany (30%), Sonangol E.P. (20%), Esso Exploration and Production Angola(Overseas) Limited (15%) and Petrogal (5%). Ultra-deep exploration work conducted in 2005 and 2006 confirmed the potentialof Block 32. After the discoveries of Gindungo in 2003, Canela and Cola in 2004,Gengibre and Mostarda drilled in 2005, Salsa, Caril and Manjericao drilled in2006, the positive results from Louro and Cominhos confirmed the major potentialof the Block. Conceptual development studies gathering the Gindungo, Canela andGengibre discoveries were initiated in 2005 in order to exploit thesediscoveries in a production zone, in the central eastern part of the block.Studies will be initiated to evaluate the development potential of the otherdiscoveries. Total in Angola Total is present in Angola since 1953 and held beginning of 2007 interests inproduction permits both operated (Blocks 3 and 17) and non operated (Blocks 0,and 14) and three exploration permits, one of which it operates (Block 32). Deep-offshore Block 17 is Total's major asset in Angola. It is composed of fourmajor zones : Girassol and Dalia, both in production; Pazflor, which is in thebidding process before sanction; and CLOV, a fourth major production area basedon the Cravo, Lirio, Violeta and Orquidea discoveries, whose development iscurrently being studied. Future production from these fields will come inaddition to 500,000 barrels of oil per day that are currently pumped fromGirassol and Dalia structures on the Block 17. Connected to the Girassol FPSO,Rosa will start production in the second quarter of 2007, enabling the FPSO toextend the production plateau to the maximum of its capacity. 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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