Total S.A.
9 June 2005
Nigeria: Total signs farm-in agreement for 40% of block OPL 215
Paris, June 9, 2005 - Total announces that the company's Nigerian operating
subsidiary, Elf Petroleum Nigeria Ltd. (EPNL), has signed a farm-in agreement
with NorEast Petroleum Nigeria Ltd., for the Oil Prospecting License (OPL) 215
offshore southwest Nigeria.
OPL 215 is located in the central part of the Niger Delta and covers an area
near to 2,500 square kilometres in water depths between 200 to 1,600 metres.
With this agreement, Total has acquired a 40% participating interest in OPL 215.
Total is the technical partner and will operate the block on behalf of NorEast
Petroleum.
Present in Nigeria since 1962, Total's equity production in 2004 stood at
271,000 barrels of oil equivalent per day. More than doubling since 1999 with
the start-up of Amenam/Kpono, the Group's production promises a strong continued
growth in the years to come with the completion of Akpo in 2008 and future
development of Usan (block 222). These projects are complemented by Total's
stake in the Bonny Liquefied Natural Gas plant with trains 4, 5 and 6 coming on
stream within three years.
The signing of this contract confirms Total's growth and diversification
strategy in Nigeria while demonstrating its commitment to and confidence in the
country's oil and gas industry's development potential.
* * * * *
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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