13th Dec 2006 11:10
Total S.A.13 December 2006 Total Signs Exploration and Production Sharing Contract for the Offshore Diaba License in Gabon Paris, December 13 2006 - Through 58%-owned subsidiary Total Gabon, Total todaysigned an exploration and production sharing contract for the offshore Diabalicense in Gabon. Covering an area of 9,075 square kilometres, the license islocated around 50 kilometres offshore southern Gabon in water depths rangingfrom 100 to 2,500 metres. The license partners are Total Gabon with an 85% interest and the GaboneseRepublic with a direct interest of 15%. The exploration program will be dividedinto three phases. The first phase, lasting three-and-a-half-years, consistsof a commitment to shoot 2,000 kilometres of 2D seismic. The second phase, alsolasting three-and-a-half years, comprises a commitment to shoot 700 squarekilometres of 3D seismic, while the third phase, lasting three years, includesan obligation well. This latest acquisition demonstrates Total's confidence in continued operationsin Gabon, in particular through the acquisition of new deep offshore acreage toexplore new plays in previously untapped horizons. Through subsidiary Total Gabon, the Group is the country's top-ranked oiloperator, with total operated crude oil production of around 37% of Gabon'stotal output. Total's equity production averaged 98,000 barrels of oilequivalent per day in 2005. Total in Gabon Present in Gabon since 1931, Total has helped to discover more than 80% of thecountry's oil and gas reserves and has developed more than 50 onshore andoffshore fields over the last 50 years. In 2000, Total Gabon launched a wide-ranging program to appraise and redevelop existing fields to enhance recoveryand slow down the natural decline in output. Total is also the main shareholderin the Sogara refinery in Port-Gentil and operates Gabon's leading servicestation network. 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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