16th Feb 2006 14:06
Total S.A.16 February 2006 Tyrihans Development Approved by Norwegian Parliament Paris, February 16, 2006 - The Norwegian Parliament has approved plans todevelop the Tyrihans field, located around 170 kilometers offshorein the Haltenbanken area of the Norwegian Sea in 285 meters of water. Totalhas a 21.51% interest in the field and is partnered with Statoil (46.8%,operator), Norsk Hydro (12%), ExxonMobil (11.75%) and Eni (7.9%). The project includes the simultaneous subsea development of two structures, onefor oil and natural gas (Tyrihans North) and the other for condensate (TyrihansSouth). The wells will be tied to processing facilities in the nearby Kristinfield, in which Total also has an interest. After separation, the liquids willbe exported via the existing terminal of Asgard and the gas will be piped to theKarsto plant with output from Kristin Production at Tyrihans is scheduled to begin in 2009 and is expected to reach aninitial plateau of around 70,000 barrels of oil equivalent per day in 2011. Together with its recent acquisition of an additional 30% interest in theVictoria discovery, the development of Tyrihans strengthens Total's position inNorway and consolidates its growth base in the Haltenbanken area of theNorwegian Sea. 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:
TTA.L