Drilling Report

Total Fina Elf.
14 May 2002


Nigeria: New Deepwater Oil Discovery

Paris, May 14, 2002 - TotalFinaElf today announced that its Nigerian operating
subsidiary, Elf Petroleum Nigeria Ltd (EPNL), has made a significant new oil
discovery in deepwater Oil Prospecting License (OPL) 222, which it operates
offshore Nigeria under a Production Sharing Contract (PSC) signed with the
Nigerian National Petroleum Corporation (NNPC) in 1993.

The Usan-1 exploration well, located approximately 100 kilometres offshore in
750 metres of water, was drilled to a total depth of 2,725 metres. During tests,
the well flowed at a rate of 5,000 barrels of 34deg API oil per day. Usan-1 is 
the second oil discovery on the 1,800 km2 license, following the Ukol-1 
discovery, which was drilled in 1998, roughly 10 kilometres to the south.

EPNL holds a 20% interest in block OPL 222, in partnership with Chevron
Petroleum Nigeria Ltd, Esso Exploration and Production Nigeria and Nexen Inc.

This new discovery represents a milestone for TotalFinaElf, whose strategy is to
strengthen its position in the deepwater Gulf of Guinea.
 



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