1st Aug 2006 09:20
Total S.A.01 August 2006 Paris, August 1st, 2006 - Total has signed an agreement with Indonesia's PTEasco East Sepanjang to farm into the offshore East Sepanjang block, northeastof Java, with a 49% working interest. The Group also has the option of acquiringan additional 41% interest at a later date, provided specific conditions aremet. Lying in water depths ranging from 400 to 1,000 metres, the East Sepanjang blockcovers around 5,100 square kilometres. A seismic survey will be conducted byyear-end and an exploration well drilled in 2007. Total will assume operatorshipafter the first 3 years "Firm Commitment" exploration period. Present in Indonesia since 1968, Total is the country's leading gas producer andsupplies more than 70% of the feed gas for the Bontang liquefaction plant, onbehalf of the 50-50 Total-Inpex joint venture, operator of the Mahakam block inwhich the Tambora, Tunu and Peciko gas fields are located. The Group producedmore than 2.6 billion cubic feet per day of gas in Mahakam in first-half 2006.Output will be maintained at this level at least through 2010. Total is also atop-tier oil and condensates producer, with operated output of 88,000 barrelsper day in 2005. 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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