9th Jun 2005 11:10
Total S.A.9 June 2005 Nigeria: Total signs farm-in agreement for 40% of block OPL 215 Paris, June 9, 2005 - Total announces that the company's Nigerian operatingsubsidiary, Elf Petroleum Nigeria Ltd. (EPNL), has signed a farm-in agreementwith NorEast Petroleum Nigeria Ltd., for the Oil Prospecting License (OPL) 215offshore southwest Nigeria. OPL 215 is located in the central part of the Niger Delta and covers an areanear to 2,500 square kilometres in water depths between 200 to 1,600 metres. With this agreement, Total has acquired a 40% participating interest in OPL 215.Total is the technical partner and will operate the block on behalf of NorEastPetroleum. Present in Nigeria since 1962, Total's equity production in 2004 stood at271,000 barrels of oil equivalent per day. More than doubling since 1999 withthe start-up of Amenam/Kpono, the Group's production promises a strong continuedgrowth in the years to come with the completion of Akpo in 2008 and futuredevelopment of Usan (block 222). These projects are complemented by Total'sstake in the Bonny Liquefied Natural Gas plant with trains 4, 5 and 6 coming onstream within three years. The signing of this contract confirms Total's growth and diversificationstrategy in Nigeria while demonstrating its commitment to and confidence in thecountry's oil and gas industry's development potential. * * * * * 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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