3rd Oct 2005 11:49
Total S.A.03 October 2005 TOTAL MAKES NEW OIL DISCOVERY IN LIBYA'S BLOCK NC 186 Paris - October 3rd 2005 - Total (24%) and partners Repsol YPF (operator), OMVand Saga have made a new oil discovery in Libya's Block NC 186. Well l-1,drilled in the Murzuq Basin 800 kilometers south of Tripoli, reached a totaldepth of 1,700 metres and found a significant oil column in the Mamuniyatsandstone formation. During production testing the well flowed at a rate up to 2,060 barrels per dayof 40 degrees API oil. It is the fifth discovery made in this block. Two of the four discoveries in NC 186 have come on stream over the last twoyears with a combined production of 45,000 barrels of oil per day. The fielddevelopment plan for the third discovery has been submitted to the LibyanNational Oil Company for approval, while the field development plan for thelatest discovery is currently under preparation. Crude oil production in the Murzuq Basin started end 1996 from the adjacent ElSharara field in block NC 115 which produce around 200,000 barrels per day ofsweet light oil and in which Total holds a 30% stake in the foreign consortium. The latest discovery strengthens Total's position in Libya, where the Group isoperator of the Al Jurf offshore field (40,000 barrels per day), and of theMabruk field (15,000 barrels per day) in the western part of the Sirte Basin. In addition, the Group is exploring in the Murzuq and Sirte Basins. 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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