Total Hits Gas Pay in Caspian

- Total Hits Gas Pay in Caspian

Friday, September 09, 2011
Total S.A.

Total on Friday announced a major gas discovery in the Caspian Sea in the Absheron block offshore Azerbaijan.

The Absheron X-2 well has encountered more than 500 feet of cumulated net gas pays within high quality sands on the northern flank of a major 270 square kilometers structure. Reservoirs are expected to extend over the entire northern part of the structure.

The well's first results confirm a potential of several trillion cubic feet of gas and associated condensates.

"This discovery could be very significant in terms of resources," said Total's Senior Vice President Exploration, Marc Blaizot. "It is the result of Total's bolder exploration strategy aimed at exploring high risk/high reward prospects both in prolific and frontier basins particularly in high pressure, deeply buried reservoirs. Our geoscientists and drillers have all the skills to make other discoveries in similar environments like the United Kingdom, Brunei, Malaysia or Egypt where new permits have been recently awarded to Total."

The well is currently at a depth of approximately 6,550 meters. Drilling will continue to explore further deeper objectives that look attractive. The well will then be tested to better confirm the reservoir potential.

The Absheron discovery is located in 500 meters of water, 100 kilometers south east of Baku, some 25 kilometers north east of the Shah Deniz gas and condensate field.

Total subsidiary, Total EP Absheron is the operator of the Absheron license with a 40% equity. The partners are SOCAR (40%) and GDF SUEZ (20%).

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Total Starts Up Taps at Pazflor Field

- Total Starts Up Taps at Pazflor Field

Friday, August 26, 2011
Total
by SubseaIQ

Total, operator of Block 17, announced that the giant Pazflor field offshore Angola has come on stream ahead of the initial schedule. The Pazflor field lies 150 kilometers off Luanda in water depths ranging from 600 to 1,200 meters and has estimated proved and probable reserves of 590 million barrels. The field will gradually ramp up to its full production capacity of 220,000 barrels per day over the coming months.

"Pazflor's start-up, several weeks ahead of schedule and within budget, is a remarkable achievement of the teams involved. The support and trust of Sonangol, our concession holder and partner, also made an invaluable contribution to our efficiency," said Yves-Louis Darricarrère, President Exploration & Production at Total. "Pazflor required a development effort on the same scale as the field. Paving a way with new technologies, the project showcases Total's expertise in highly complex environments. The project facilities have been designed and thoroughly tested in accordance with the strictest health, safety and environmental standards. This is another step in the ongoing saga of our deep offshore feats, begun right here in Angola. Deepwater developments are a core driver of our future production growth."

Pazflor comprises a vast subsea gathering network, the most complex ever built in Angola: 180 kilometers of lines tying in 49 subsea wells, 10,000 metric tons of subsea equipment and the giant Pazflor floating production, storage and offloading (FPSO) vessel. Held in position by 16 subsea mooring connectors, with its 325 meters long, 62 meters wide and a weight of more than 120,000 metric tons, the FPSO is the largest in the world. It can store up to 1.9 million barrels of oil that is then exported to tankers via an offloading buoy. The associated gas is reinjected into the reservoir, but could also be exported to the Angola LNG plant once the latter becomes operational.

A key technical challenge was producing two very different grades of oil from four separate reservoirs. Producing the heavy, viscous oil from the three Miocene reservoirs, which account for two-thirds of the reserves, and the related flow assurance constraints, represented a major challenge. The gas has to be separated from the liquids on the seabed so that the viscous liquids can then be pumped to the surface. The design and installation of subsea gas-liquid separation units and pumps are a world first on this scale. The pumps were purpose designed and tested for Pazflor.

Total's wholly owned subsidiary Total E&P Angola operates Block 17, with a 40% interest, while Sonangol is the concession holder. The other partners are Statoil ASA (23.3%), Esso Exploration Angola (Block 17) Limited (20%) and BP Exploration (Angola) Ltd (16.67%).

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Total Awarded Tanzania Tanganyika O&G Rights -TPDC

- Total Awarded Tanzania Tanganyika O&G Rights -TPDC

Tuesday, August 16, 2011
Dow Jones Newswires
by Nicholas Bariyo

Tanzania's state oil company, Tanzania Petroleum Development Corp., has awarded rights to explore for oil and gas in its Lake Tanganyika Rift Basin to France's Total E&P Activities Petrolieres, with further negotiations and details on a production sharing agreement to follow, TPDC announced Tuesday.

"Total has shown itself to be able to comply with the minimum work commitment and has superior technical as well as financial capability over the other bidders to undertake exploration in the Lake Tanganyika North area," TPDC said. Total beat at least four other companies.

The Lake Tanganyika Rift Basin is part of the western arm of the East African rift valley, where at least a billion barrels of oil have been discovered in neighboring Uganda.

The Lake Tanganyika rift basin is divided into two blocks. Total will operate the northern block. The Southern block was awarded to Australia's Beach Energy in 2008.

Next year, Tanzania will open another bidding round for at least 13 blocks sitting between 1,200 meters and 3,500 meters of water depth off its coast in the Indian Ocean.

However, in recent months, licensing and exploration activities off the Tanzanian coast have been overshadowed by disputes between mainland Tanzania and the semi-autonomous archipelago of Zanzibar over the control of oil and gas in around five blocks near the isles.

Currently, Tanzania has licensed 12 deepwater blocks and recent exploration works have encountered at least 7.5 trillion cubic feet of natural gas. The country is yet to discover commercial oil reserves.

At the moment, there are no production projections Tanganyika project since no discoveries have been made, and formal exploration has yet to commence.

Copyright (c) 2011 Dow Jones & Company, Inc.

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Nostra Terra Reaches Total Vertical Depth at Verde Prospect

- Nostra Terra Reaches Total Vertical Depth at Verde Prospect

Monday, August 15, 2011
Nostra Terra O&G Co. plc

Nostra Terra announced that the initial well in the Verde Prospect in south-eastern Colorado, has been drilled ahead of schedule to a total vertical depth of 5,300 feet.

Indications of productivity in drilling samples and electric logs were positive and the well has been recommended for completion.

Production casing will be run to total depth, followed by completion in the most optimal zone(s). NTOG will provide the first 30-day production figures as soon as these are available.

NTOG has a 16.25% working interest (WI) in the Verde prospect. Following evaluation of testing and potential production of the initial well, two or three further development wells (PUDs) could be drilled, in which Nostra Terra also has the right to participate.

Matt Lofgran, Chief Executive Officer of Nostra Terra, commented, "We're pleased with the progress made on this well ahead of schedule and hope to see further positive results on this prospect. As a company, our current prospects are fully-funded, with additional cash on hand for further acquisitions, allowing us to continue to grow, regardless of the state of the global economy or markets."

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Total Makes Major Gas Find in Barents Sea

- Total Makes Major Gas Find in Barents Sea

Monday, August 08, 2011
Norwegian Petroleum Directorate

Total EP Norge AS, operator of production license 535, has completed the drilling of wildcat well 7225/3-1. The well, which proved gas, was drilled in the Barents Sea, about 250 kilometers north of Melkoya.

The primary exploration target for the well was to prove petroleum in Triassic reservoir rocks (Snadd and Kobbe formations). The secondary exploration target was to prove petroleum in the Middle Jurassic (Sto formation), Triassic (Havert formation) and Permian (Bjarmeland formation).

Gas was proven both in intervals from the Jurassic and the Triassic: in the Kobbe formation with a 400-meter interval in rocks of varying reservoir quality, and in the Havert formation in two intervals of 80 and 90 meters, respectively, in poorly developed reservoir rocks. Gas was also encountered in the Sto and Snadd formations.

Preliminary estimates place the size of the discovery between 10 and 50 billion standard cubic meters (Sm3) of recoverable gas.

A successful formation test has been carried out in the upper part of the Kobbe formation. The maximum production rate was 180 000 Sm3 gas per flow day through a 44/64-inch nozzle. The gas contains only small amounts of CO2, H2S and N2. The results from the well will be included in the ongoing evaluation of "Norvarg" to establish the size and extent of the gas discoveries.

The well was drilled in 376 meters of water and is the first exploration well in production license 535. The license was awarded in the 20th licensing round in 2009.

The well was drilled to a vertical depth of 4150 meters below the sea surface, and was terminated in the Orn formation in Permian rocks. The well will now be permanently plugged and abandoned.

Well 7225/3-1 was drilled by West Phoenix, which will now go on to drill for Statoil Petroleum AS on the Troll field in the North Sea.

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Origin Boosts Total 2P Reserves by 13%

- Origin Boosts Total 2P Reserves by 13%

Friday, July 29, 2011
Origin Energy Ltd.

Origin announced record annual production and sales revenues for its Exploration and Production business, released in the company's Production Report for the quarter to June 30, 2011.

This follows the release yesterday of Origin's 2011 Annual Reserves Report, in which the company announced a 13 percent annual increase in total Proved plus Probable (2P) reserves.

Origin Executive Director, Finance and Strategy, Ms. Karen Moses, said, "The Exploration and Production business has delivered record annual production of 135 Petajoules equivalent (PJe), up 30 percent on the prior year. Sales revenues also increased to a record $835 million, an increase of 32 percent on the prior year.

"The strong performance was driven by a 36 percent increase in production from Australia Pacific LNG as gas was supplied into major new contracts, higher production from Origin's increased share of Otway, a full year's contribution from Kupe and higher production from BassGas after an extended shutdown in 2009/2010.

"Notably, the record increases were achieved amid a challenging operating environment with extreme weather conditions impacting a number of our assets.

"Origin also reported a 13 percent annual increase in 2P reserves to 7,041 PJe, driven by increases in our CSG reserves held through Australia Pacific LNG and in the Ironbark area," Ms. Moses said.

During the year, Australia Pacific LNG made significant progress on its CSG to LNG project, culminating with a Final Investment Decision announced on July 28, 2011. The decision initiates development of the first LNG train and infrastructure to support a second train, and is underpinned by a sale and purchase agreement with Sinopec for the supply of 4.3 million tonnes per annum of LNG. Sinopec has also subscribed for a 15% equity interest in Australia Pacific LNG1.

"The Final Investment Decision on the first phase of the Australia Pacific LNG project marks the commencement of one of Australia’s largest LNG export projects," Ms. Moses said.

"Australia Pacific LNG holds Australia's largest 2P CSG reserves, including extensive acreage within the premier production fairways providing high quality gas resources with high deliverability," Ms. Moses said.

Production for the quarter to 30 June 2011 was 37 PJe, or 23 percent, higher than the June Quarter in 2010, with all asset areas either increasing production or maintaining production at comparable levels. Most notably, Otway increased production by 49 percent. Total sales volumes and revenues increased by 8 percent and 11 percent respectively.

Compared with the March Quarter 2011, production was 28 percent higher, as Otway returned to higher production levels and CSG and Cooper Basin production increased after the floods experienced earlier in the year. Sales volumes and revenues were 19 percent and 14 percent higher respectively, reflecting the increased production.

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Total Earnings Fall on Weaker Production, Refining Margins

- Total Earnings Fall on Weaker Production, Refining Margins

Friday, July 29, 2011
Dow Jones Newswires
LONDON
by Alexis Flynn

French oil major Total Friday posted a 6% drop in second-quarter adjusted net profit as higher crude oil prices and the integration of Novatek's production failed to offset lower overall output and weaker refining margins.

The company reported EUR2.79 billion in the closely-watched adjusted net profit figure, somewhat short of the EUR2.84 billion projected by analysts. That was also lower than last year's result of EUR2.96 billion.

The French oil giant also became the latest European oil major to report weaker year-on-year oil and gas production, with seasonal maintenance and the loss of Libyan crude some of the common themes to affect the sector.

Total shares were off .47, or 1.23%, to EUR37.89 at 753GMT, slightly weaker than the French CAC 40 index.

Still, even as Total Chief Executive Christophe de Margerie acknowledged the impact of weak refining margins and Libyan oil outages, he expressed confidence in light of strong oil prices due to geopolitical tensions and strong energy demand. The company announced it will pay a second-quarter interim dividend for the first time of EUR0.57 a share.

"With a strong balance sheet and dynamic pace of execution in all of the group's segments, Total begins the second half of 2011 very confident in its outlook for profitable growth to benefit all of its stakeholders," de Margerie said.

Total said the European refinery margin indicator averaged $16.3 per metric ton in the second quarter, down 48% from $31.2/ton a year earlier, even though the group had said in the previous quarter that the margin should improve following the start-up of the new deep-conversion unit at its Port Arthur refinery in the U.S.

Unadjusted net profit came in 12% lower at EUR2.72 billion from EUR3.10 billion in the same quarter of 2010.

The group's hydrocarbon output over the period dropped 2% to 2.31 million barrels of oil equivalent per day from 2.36 million of boe/d a year earlier. Analysts expected production to drop 2.4% to 2.30 million barrels per day.

Copyright (c) 2011 Dow Jones & Company, Inc.

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Total Depth Reached at Caza's Tx. Well

- Total Depth Reached at Caza's Tx. Well

Thursday, July 28, 2011
Caza O&G Inc.

Caza, as operator, announced that the Caza Elkins 3402 well in Midland County, Texas, reached a total depth of 11,852 feet, and the well was subsequently logged. This log data has confirmed the same multi pay potential for oil and gas in the Spraberry, Wolfcamp, Strawn, Atoka and Mississippian/Devonian formations as is found in the Caza Elkins 3401 well (a direct offset to the Caza Elkins 3402). Caza is currently preparing the Caza Elkins 3402 well for completion operations, which will include a fracture stimulation program.

As previously announced, frac crews are extremely busy in this area. However, Caza was able to secure a frac crew ahead of schedule to perform the fracture stimulation procedure for the Caza Elkins 3401 well, which is now scheduled for today, July 28, 2011. The Company still anticipates the initial fracture stimulation procedure on the Caza Elkins 3402 well to be performed in late August 2011. Caza will update the market once initial flow rates have been established for each well.

The San Jacinto property covers approximately 480 acres with five proven undeveloped locations, including the Caza Elkins 3401 and 3402 locations. Caza has a 100% working interest before completion and an 85% working interest after completion in the Caza Elkins 3401 well with a 63.75% net revenue interest. In all subsequent wells on the San Jacinto property, including the Caza Elkins 3402 well, Caza will have a 75% working interest and a 56.25% net revenue interest.

W. Michael Ford, Caza's Chief Executive Officer commented, "The results of the Caza Elkins 3401 and 3402 wells on the San Jacinto property are positive, and we look forward to fracture stimulating both wells and bringing them into production."

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Russia and Total to Invest $38B in Arctic Gas Production

- Russia and Total to Invest $38B in Arctic Gas Production

Wednesday, July 20, 2011
Deutsche Presse-Agentur (dpa)

Russia and the French energy giant Total will jointly invest 38 billion dollars in a liquefied natural gas project in the Arctic, Prime Minister Vladimir Putin said Wednesday.

The plan calls for the construction of an Arctic Sea terminal in Russia's Yamal Peninsula which would, once completed in 2018, allow France to receive annually 15.5 million tonnes of liquefied gas by tanker, Interfax reported.

"Thanks to the project Russia's presence in the market for liquefied natural gas (LNG) will expand," said Putin at a Moscow press conference.

Russia's government had previously approved Total's purchase of a 20.5 percent stake in Yamal SPG.

Yamal SPG is owned by Russia's largest private gas producer, Novatek. Total in April purchased a 12 percent stake of Novatek.

Novatek holds a production license to some of the richest gas fields in North West Siberia. The region according to estimates contains some 1.3 trillion cubic meters of gas and nearly 52 million tons of gas condensate.

The Yamal peninsula is a remote Arctic territory of permafrost, tundra, swamp and pine forest. Its remoteness and harsh conditions makes energy development costly.

Copyright 2011 dpa Deutsche Presse-Agentur GmbH

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Total to Fast-Track North Sea Atla Field

- Total to Fast-Track North Sea Atla Field

Friday, July 08, 2011
Det norske oljeselskap ASA

Total E&P Norge has, on behalf of the partnership in license 102C, submitted a plan for development and operation (PDO) for Atla to the authorities. In addition to Total which is the operator, the partnership in 102C consists of Petoro, Centrica and Det norske, with a 10 percent interest.

The discovery on Atla (formerly called David) was made in oktober 2010. Gas-condensate was proven in the Brent formation. Comprehensive tests and sampling was carried out. According to plan, the exploration well from 2010 will also be used as a production well, which has great significance for the projects profitability. Total investments are estimated to 1.4 billion NOK ($258.7 million).

"Atla is a prospect we have known about for a long time, in which we succeeded to enter, and one we have promoted in the drilling schedule. We are very pleased with the work Total has put down in this small-scale discovery, as the operator."

"The license managed to quickly develop a good solution for development. This is the first development project we, Det norske, participate in. It also represents the beginning of a series of development projects in the coming years, which will give us a considerable production," said Erik Haugane.

Atla is situated in the central part of the North Sea, 20 kilometers northeast of the Heimdal Field. The discovery will be produced using a subsea installation connecting with an existing pipeline between Heimdal and Skirne. Total is also operator of the Skirne Field.

Recoverable reserves are estimated to be 12 million barrels of oil equivalents.

Licensees in 102C are:

• Total E&P Norge AS (40 %)
• Petoro AS (30 %)
• Centrica Resources (Norge) AS (20 %)
• Det norske (10 %)

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Total Eyes Brazil Pre-Salt Resources Development Role-Exec

- Total Eyes Brazil Pre-Salt Resources Development Role-Exec

Thursday, July 07, 2011
Dow Jones Newswires
PARIS
by Geraldine Amiel

Total is "well prepared" to take part in the development of Brazil's pre-salt oil resources, Total's head of exploration and production, said Yves-Louis Darricarrere.

Speaking during a conference on Brazil here, Darricarrere said the country is "a land of opportunity" for oil groups such as his.

Brazil's pre-salt resources are located on the deep-offshore field of Santos.

Total acquired in June 2010 a 20% interest in the BM-S-54 block on Santos, operated by Shell. The block is being explored, and no production has been planned yet.

"Total is well prepared to participate and is waiting for Brazil to decide when these interesting areas will be open," Darricarrere said on the country's pre-salt resources.

"In the short term, the announced 11th concession round which deals with non pre-salt discoveries will certainly be of interest to us," he also said.

Total also owns a 41.2% interest in the BC-2 block and a 50% interest in the BM-C-14 block both located on the Campos field, which is non pre-salt.

Copyright (c) 2011 Dow Jones & Company, Inc.

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Total Increases Stake in Tempa Rossa Field

- Total Increases Stake in Tempa Rossa Field

Tuesday, July 05, 2011
Total

Total announced the acquisition of Esso Italiana's interests respectively in the Gorgoglione concession (25% interest), which contains the Tempa Rossa field, and in two exploration licenses located in the same area (51.7% for each one). The acquisition increases Total's equity stake in the operated Tempa Rossa field to 75%. The transfer of interests is subject to the approval of Italian authorities.

The Tempa Rossa project, located in Basilicata region, is important for the economic development of this region. The calls for tender for the main development contracts are under way and Regional and Governmental approvals are expected in summer 2011. A Final Investment Decision on project implementation is planned towards end 2011 which would lead to start of production in 2015 with a plateau level of 50,000 barrels of oil per day.

This acquisition strengthens Total's position in the Exploration-Production sector in Italy and its commitment as a major player in the economic development of the Basilicata Region. The Total Group strives to reduce its environmental footprint as part of its commitment to sustainable development. Safety and environmental protection are core concerns for the Group wherever it operates.

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Taqa Takes Operatorship Of N. Sea Otter Field from Total

- Taqa Takes Operatorship Of N. Sea Otter Field from Total

Monday, July 04, 201
LONDON
Dow Jones Newswires
by Alexis Flynn

Abu Dhabi National Energy, or Taqa, said Monday its U.K. unit has taken control of the Otter field, the first phase of a transaction agreed last year with French major Total to acquire its 81% stake in two North Sea blocks.

The field is located in blocks P.226 Block 210/15a and P.1021 Block 210/20d, adjacent to Taqa Bratani's existing North Sea interests purchased in 2008. Otter is linked to the Taqa Bratani-operated Eider platform, the firm said Monday.

"Becoming operator of the Otter field underlines Taqa Bratani Ltd.'s long-term commitment to the North Sea," said Leo Koot, managing director of Taqa Bratani.

Copyright (c) 2011 Dow Jones & Company, Inc.

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Total Makes Gas Discovery in Barents Sea

- Total Makes Gas Discovery in Barents Sea

Thursday, June 16, 2011
Det norske oljeselskap ASA

Det norske has as license partner made a gas discovery in the Norvarg prospect in the Barents Sea license 535, operated by Total E&P Norge AS.

Exploration well 7225/3-1 has not been completed. Preliminary well data indicate gas at three different levels, a significant part of it in the Kobbe formation.

It is too early to conclude on flow rate characteristics and potential commerciality; hence the partnership has decided to perform a production test to gather information about reservoir production properties.

The test is planned to be carried out after the well has been drilled to total depth at about 4100 meters. Drilling operations are expected to continue for several weeks. Due to the production test, it is expected that the well will take longer time to complete than previously anticipated.

License owners are:

• Total E&P Norge AS (operator 40%)
• Det norske oljeselskap ASA (20%)
• North Energy (20%)
• Rocksource (20%)

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Total: Ekofisk South, Eldfisk II Get Govt Nod for Development

- Total: Ekofisk South, Eldfisk II Get Govt Nod for Development

Thursday, June 09, 2011
Total

Total announced the launch of the Ekofisk South and Eldfisk II projects offshore in the southern Norwegian North Sea on Production Licence (PL) 018. Total holds a 39.90% interest in the license.

The plan for development and operation for each project has been approved by the Norwegian authorities.

The Ekofisk South project will include a new platform (Ekofisk 2/4Z) and a new subsea facility (Ekofisk 2/4VB) at the Ekofisk complex. The platform will have a 40 years design life and a capacity of 70,000 barrels of oil equivalent (boe) per day. The new facilities will enable the drilling of 35 production and 8 water injection wells to further develop the Ekofisk field and increase oil recovery. Production start-up is expected early 2014.

The Eldfisk II project will include a new platform (Eldfisk 2/7S) at the Eldfisk complex and substantially upgrade the existing facilities on the Eldfisk field. The new platform will have 40 years design life and a capacity of 70,000 boe per day. It will provide accommodation, new process facilities, and will enable the drilling of 30 production and 9 water injection wells to further develop the Eldfisk field and increase oil recovery. Production start-up is expected in 2015.

These two projects will enable the development of around 450 million barrels of oil equivalent of reserves.

"These two projects represent major investments for Total and clearly demonstrate our long-term commitment to continued value creation in Norway," said Patrice de Viviès, Senior Vice President Exploration & Production Northern Europe, Total.

The Ekofisk and Eldfisk fields were discovered in 1969 and 1970. First production was achieved from the Ekofisk field in 1971 and Eldfisk came on stream in 1979. The two fields produced around 260,000 boe per day on average in 2010.

PL 018 partners are Total (39.90%), ConocoPhillips (35.11% and Operator), ENI (12.39%), Statoil (7.60%) and Petoro (5.00%).

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Total Takes CNOOC Stake Offshore Qatar

- Total Takes CNOOC Stake Offshore Qatar

Monday, May 30, 2011
Total S.A.

Total announced that it has signed an agreement with CNOOC Middle East (Qatar) Limited, a wholly-owned subsidiary of CNOOC International Limited, to acquire a 25% interest in Qatar's Block BC (pre-Khuff) exploration license. CNOOC Middle East (Qatar) Limited will continue to be the operator with a 75% interest.

Located 130 kilometers east of the Qatari coast, the offshore block covers an area of 5,649 square kilometers, with water depths ranging from 15 to 35 meters.

The Block BC Exploration and Production Sharing Agreement (EPSA), entered into with the Government of the State of Qatar, stipulates that 2D and 3D seismic surveys will be conducted and that at least three exploration wells will be drilled by 2014.

Commenting on Total's participation in the Block BC EPSA, His Excellency Dr. Mohammed Bin Saleh AI-Sada, Qatar's Minister of Energy and Industry said, "We would like to welcome our long time partner, Total, into the Block BC EPSA, and we wish them and CNOOC all success with the exploration activities, which we believe are always enhanced when quality companies such as Total and CNOOC join efforts."

"CNOOC thanks QP for its professional support during the execution since EPSA endorsement. Block BC is as one of its most important projects with QP, in addition to other cooperation," said Xiang Hua, Country Manager to Qatar. "We also welcome Total to join CNOOC in exploring Block BC in Pre-Khuff formation. We believe the partnership is combining strengths from both and will eventually lead to win-win operation towards commercial discovery."

"The farm-in transaction is another step forward in the partnerships forged with Qatar Petroleum and CNOOC, and reflects Total’s commitment to expanding its exploration and production operations in promising geological basins," stated Christophe de Margerie, Chairman and Chief Executive Officer of Total.

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TWMA Receives Contract Extension by Total

- TWMA Receives Contract Extension by Total

Wednesday, May 18, 2011
TWMA

TWMA has been awarded a $6.4million contract extension by Total E&P UK Limited for continued drilling-waste management services in the UK North Sea.

The UK-headquartered firm has been contracted for a further two years to process and handle drill cuttings from the Rowan Viking's first drilling campaign with Total.

The N-class newbuild drill unit will commence a two-well UK offshore drill program late-May initially for development drilling in the Elgin field, followed by the planned drilling of the Corfe prospect, south of Elgin.

The Rowan Viking jack-up is owned by Houston-based Rowan and currently operated by Total. It is one of the largest jack-up rigs operating in the North Sea.

Under the extended deal, TWMA's TCC RotoMill thermal processing technology will process and recycle cuttings alongside the firm's Cuttings Containment and Distribution System (CCDS).

The CCDS system contains large volumes of drill cuttings at the rig site, while the TCC RotoMill recycles recovered oil back into the drilling fluid. This gives operators a complete environmentally sensitive system at remote offshore locations.

Ronnie Garrick, managing director of TWMA, said, "We have a long-established relationship with Total and are very pleased that the operator has chosen to continue using our services following a successful waste management campaign on the Rowan Gorilla V.

"We look forward to working with Total over the course of this latest drilling program."

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Total Announces Offshore Angola Discovery

Total Announces Offshore Angola Discovery

Friday, May 06, 2011
Total S.A.

Total announced Friday that its subsidiary, TEPA (Block 17/06) Limited, and Sociedade Nacional de Combustiveis de Angola (Sonangol E.P.), have discovered hydrocarbons in the north-eastern area of the deep offshore block 17/06.

Drilled in a water depth of 445 meters, the Canna-1 well discovered hydrocarbons in reservoir of Miocene age and produced more than 5,000 barrels per day of high quality oil (33 API) during a production test.

Sociedade Nacional de Combustveis de Angola (Sonangol) is the concessionaire of the Block 17/06. TEPA (Block 17/06) Limited is the operator of the Block 17/06 with a 30% stake. Total's partners in the block are Sonangol Pesquisa e Producao S.A. (30%), Sonangol Sinopec International (SSI) Seventeen Limited (27.5%), ACREP Bloco 17 S.A. (5%), Falcon Oil Holding Angola S.A. (5%) and PARTEX Oil and Gas (Holdings) Corporation (2.5%).

Total has been present in Angola since 1953. In Angola, Total operated 460,000 barrels oil equivalent per day (boe/d) in 2010, and its SEC equity production amounted approximately 163,000 boe/d. This production comes essentially from Blocks 17,0 and 14.

Deep offshore Block 17, operated by Total with a 40% interest, is Total's principal asset in Angola. It is composed of four major zones: Girassol-Rosa and Dalia, which are currently producing; Pazflor, a project under development for a production start in the second half of 2011; and CLOV (based on the Cravo, Lirio, Orquidea and Violeta discoveries), for which the development was recently launched.

Total is also the operator with a 30% stake in the ultra deep offshore Block 32, on which 12 discoveries were made, confirming the oil potential of the block. Pre-development studies for a first production zone in the central south eastern portion of the block are underway.

In addition, the Angola LNG project for the construction of a liquefaction plant near Soyo is designed to bring the country's natural gas reserves to market. This project, on which Total holds a 13.6% stake, will be supplied by the associated gas from the fields on Blocks 0, 14, 15, 17 and 18. The project is underway with production expected to begin in 2012.

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Pacific Drilling Gains Total Nigeria Commitment

Pacific Drilling Gains Total Nigeria Commitment

Tuesday, May 03, 2011
Pacific Drilling S.A.

Pacific Drilling S.A. announced Monday that their latest generation drillship, the Pacific Scirocco, has received a Letter of Award from Total E&P Nigeria Limited, subject to completion of formalities with relevant government agencies in the near future, to perform exploration and development work in Nigeria. The minimum duration of the award is for a one-year initial term at a dayrate of $470,000 plus mobilization and client requested upgrades. The agreement further contemplates two one-year options at Totals discretion.

We are very pleased to announce a new core relationship with Total, a leading deepwater operator, consistent with our vision to work with the best in the industry, commented Pacific Drilling CEO Chris Beckett. This represents Pacific Drillings third commitment from a major oil company, including the two previously announced contracts for the Pacific Santa Ana and the Pacific Bora both contracted to Chevron in the Gulf of Mexico and Nigeria respectively.

Pacific Drillings fourth ultra-deepwater drillship, the Pacific Mistral, is under construction at Samsung Heavy Industries. The Mistral is on target for on time delivery in May 2011 and is the subject of advanced discussions with various clients. In March 2011 Pacific Drilling ordered two additional drillships from Samsung Heavy Industries, the Pacific Khamsin and the Pacific Sharav, scheduled for delivery in April and September 2013 respectively.

Pacific Drilling is a fast growing company that is dedicated to becoming the preferred ultra-deepwater drilling contractor. Pacific Drillings fleet of four of the newest ultra-deepwater drillships is expected to be in operation by the end of 2011, with two additional drillships on order at Samsung for delivery during 2013.

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Total Reports Q1 Earnings Up 51% To $5.86 Billion

Total Reports Q1 Earnings Up 51% To $5.86 Billion



Apr 29, 2011

Total (NYSE:TOT) reported Q1 earnings of $5.86 billion, up 51% from the $3.87 billion the company earned in Q1 of 2010. Revenue for the quarter was up 22% year-over-year to $68.29 billion.

Chief Executive Christophe de Margerie said, "Growing geopolitical tensions and the aftermath of the earthquake in Japan will shift the balance of the global energy markets. In the face of these new challenges, Total confirms its strategy of investing to increase its production to better respond to changes in energy demand and in the energy mix."

Total announced Thursday night a $1.37 billion proposal to take 60% of SunPower Corp. (NASDAQ:SPWRA), a U.S. solar manufacturer, in an effort to boost its renewable-energy portfolio.