Total S.A.
10 January 2006
Norwegian Sea: Total acquires an additional 30% of the Victoria discovery and
disposes of 5% interest in the Tyrihans field
Paris, January 10, 2006 - Total announces that its wholly owned subsidiary,
Total E&P Norge, has signed a sale and purchase agreement with ExxonMobil
Exploration and Production Norway to acquire their entire 30% interest in the
PL211 licence. This licence, located in the Norwegian Sea 200 kilometres
offshore in water depths of around 400 metres, holds the Victoria discovery. The
acquisition is subject to the approval of the Norwegian authorities. It will
raise Total's participation in the Victoria discovery to 50%.
Total E&P Norge plans to propose its candidature as operator to the other
partners on the PL211 licence, Statoil (30%) and Eni Norge (20%).
As part of this transaction Total will transfer to ExxonMobil 5% of the Tyrihans
field (6.29% of the PL073 licence). Following this transfer, Total's stake in
the Tyrihans field will go from 26.51% to 21.51%.
Through this investment, Total aims at increasing the volume and lifespan of its
hydrocarbon reserves in Norway and thus consolidating its position as leader and
operator in this country.
* * * * * *
Total is the fourth largest oil and gas company in the world with operations in
more than 130 countries. Total's activities cover the whole energy chain of the
petroleum 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 found
on the company's website: www.total.com
This information is provided by RNS
The company news service from the London Stock Exchange
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