27th Jul 2006 11:16
Total S.A.27 July 2006 Nigeria: Total signs farm-in agreement on two offshore blocks Paris - July 27, 2006 - Total announces that its wholly-owned Nigerian operatingsubsidiary, Elf Petroleum Nigeria Limited (EPNL), has signed a farm-in agreementwith Amni International Petroleum Development Company Limited, for the Oil MiningLicences (OMLs) 112 and 117 offshore southeast Nigeria. With this agreement,EPNL has acquired a 40% participating interesting in both OMLs. OMLs 112 and 117 are located in the eastern part of the Niger Delta at about20 kilometres from the Bonny LNG plant. Together, they cover an area of550 square kilometres in water depths between 10 to 15 metres. EPNL is the technical partner and will operate the appraisal and development onbehalf of Amni. An appraisal well, Ima 12, has just been drilled and confirmed the gas reserves of the acreage. Tests are currently ongoing to ascertain the quality of the gas and the nature of the reservoirs. The gas reserves will supply Total's future projects in Nigeria. The development of offshore fields in Nigeria constitutes one of the principle growth areas for Total in Africa, in particular with the development of the Akpo field, with start-up planned for late 2008 at a level of 225,000 barrels of oil equivalent per day. Total also holds a 15% stake in the Bonny liquefied natural gas plant. The development of Total's presence in Nigeria, combined in particular with the growth of the company's production in Angola, will enable Total to consolidate its position as leader among other oil majors in Africa. **************** Total is one of the world's major oil and gas groups, with activities in more than 130 countries. Its 95,000 employees put their expertise to work in every part of the industry - exploration and production of oil and natural gas, refining and marketing, gas trading and electricity. Total is working to keep the world supplied with energy, both today and tomorrow. The Group is also a first 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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