Total Farms into the Bemolanga Heavy Oil Licens...
TOTAL S.A.
Total Farms into the Bemolanga Heavy Oil License in Madagascar
Total announces that it has signed an agreement with Madagascar Oil S.A. to farm
into the Bemolanga license with a 60% interest.
Located onshore in western Madagascar, the 6,500-square-metre Bemolanga license
was awarded to Madagascar Oil in 2004. The license contains heavy oil in place
that were evaluated at 10 billion barrels during earlier drilling operations and
that can be developed using mining technology.
Following the transaction, Total will operate the license. During the initial
appraisal phase, additional core drills will be drilled to determine the
license's potential. A production pilot will be set up in a second phase to
confirm the development parameters before considering a large scale development
of the license.
Taking advantage of its experience acquired in Venezuela and in Canada where the
Group already holds significant resources of heavy oil, Total is expanding its
development strategy in this segment of the industry. Developing the heavy oil
is essential to guarantee the supply to the world markets within the next
decade.
Total is already active in Madagascar in marketing, aviation fuel and petroleum
product logistics.
Total is one of the world's major oil and gas groups, with activities in more
than 130 countries. Its 96,000 employees put their expertise to work in every
part of the industry - exploration and production of oil and natural gas,
refining and marketing, gas & power and trading. Total is working to keep the
world supplied with energy, both today and tomorrow. The Group is also a first
rank player in chemicals. www.total.com
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