2nd Mar 2006 14:07
Total S.A.02 March 2006 China: Total enters into the Sulige field Paris, March 2, 2006 - Total and PetroChina have signed a Production SharingContract for the evaluation, development and production of the natural gasresources of the South Sulige block of Ordos Basin, an area of around 2,390square kilometres located in the Province of Inner Mongolia, onshore China. Thecontract is subject to approval by Chinese authorities. The evaluation of this field will include the acquisition of new seismic data,reentry of existing wells and the drilling and testing of new wells. "Total is pleased to be part of the Sulige development. This project is a majorstep towards unlocking potentially very large unconventional natural gasresources. It demonstrates the strong commitment of both PetroChina and Totalto jointly cooperate in that field", states Christophe de Margerie, PresidentExploration and Production of Total. Total will bring to the partnership its technological expertise and workingpractices applied to the specific working conditions of the Ordos geologicalbasin. Together with PetroChina, the Group will promote the replacement oftraditional energy resources by cleaner fuels in the urban eastern regions. Total and PetroChina have been partners for more than 10 years in one of themost important Chinese refineries, WEPEC. Located in Dalian, in the northeast ofthe country, WEPEC is operated by PetroChina and is currently being modernizedand upgraded to a capacity of 10 million tons a year. Total and PetroChina are also actively cooperating internationally to join theirefforts and competencies in exploring and developing new resources in severaldomains, particularly heavy oils. Sulige project is an attractive and sizableopportunity which will allow in the two companies to strengthen theircooperation. ******* 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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