Statement re Surmont Project
Total S.A.
15 December 2003
Canada: First phase of the Surmont heavy oil sands project
officially launched
Paris, December 15, 2003 - Total announces the company's approval for the
launching of the first phase of the Surmont oil sands project in Athabasca, 60
kilometers southeast of Fort McMurray, Alberta, Canada. The first phase of
production will start in 2006 and reach 27,000 barrels per day of bitumen. It
represents an important milestone in the development of the totality of Surmont
reserves.
The Surmont oil sands project uses Steam Assisted Gravity Drainage (SAGD), a
method that involves the injection of steam deep into the oil sands. The steam
melts the bitumen, which is then recovered in its semi-liquid state and pumped
to the surface for further processing.
'With the approval of this project, Total is also marking its commitment to
developing and adding the Surmont oil sands to its very significant reserves of
heavy oil,' affirms Christophe de Margerie Total's president of Exploration and
Production. 'Once more Total is demonstrating how improvements in technology
coupled with the hard work of our employees and partners are making it possible
to develop resources set in difficult physical environments.'
Total holds a 43.5% stake in the Surmont permit in partnership with
ConocoPhillips, operator with 43.5%, and Devon 13%.
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
through its chemicals branch, Atofina. Total has 121,500 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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