United States: Total Obtains 12 Deepwater Gulf ...
TOTAL S.A.
Total announces that its wholly owned subsidiary, Total E&P USA Inc., was the
high bidder on 12 deep and ultra-deep water exploration blocks in the Central
and Eastern Gulf of Mexico Lease Sale 205.
Total E&P USA Inc. will operate five blocks in the Garden Banks area, three
blocks in the Green Canyon and four blocks in Walkridge with a 100% working
interest. All twelve leases are around 25 square kilometres each. Award of these
blocks is subject to final approval by the Minerals Management Service.
This acquisition follows the acquisition of twenty blocks last year in the same
areas of the Gulf of Mexico. It is in accordance with the company's strategy to
strengthen its portfolio in the Gulf of Mexico on focusing exploration efforts
on prospects with high long-term potential.
Total E&P in the United States
Total has been present in exploration and production in the United States since
1957 and produced 15,000 barrels of oil equivalent per day in equity share in
2006. The Group has finalized beginning of 2006 an agreement to swap four
onshore fields in the South of Texas against a 17% interest in the Tahiti field
in the deep waters of the Gulf of Mexico.
Total sold its interest at the beginning of 2007 in the Camden Hills and
Acacongua fields, as well as in the Canyon Express pipeline, wishing by these
cessions to concentrate on exploration with high long-term potential.
Total is one of the world's major oil and gas groups, with activities in more
than 130 countries. Its 95,000 employees put their expertise to work in every
part of the industry - exploration and production of oil and natural gas,
refining and marketing, gas trading and electricity. 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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