TTA: TOTAL: USA: Total Announces Significant Oil Discovery in the Gulf of
UK Regulatory Announcement
Total (Paris:FP) (LSE:TTA) (NYSE:TOT) announces a significant oil discovery at
its North Platte prospect on Garden Banks Block 959 in the deepwater Gulf of
Mexico. The discovery well encountered several hundred feet of net oil pay in
Lower Tertiary sands which included several high-quality intervals.
Total estimates this discovery can have a potential of several hundred million
barrels of oil. Further appraisal will be needed to confirm its size and
“The North Platte discovery represents another example of Total’s bold
exploration strategy targeting large exploration opportunities. It also
demonstrates the efficiency of our alliance with Cobalt signed in 2009,” said
Marc Blaizot, Total’s Senior Vice President Exploration.
Total is in a strategic alliance with Cobalt International Energy to explore
for oil in the Deepwater Gulf of Mexico. The North Platte discovery is the
first Lower Tertiary Wilcox formation well drilled by the Alliance. The
results of the well confirm the northern extension of the Wilcox formation and
the presence of liquid hydrocarbons. Therefore, this validates the major
potential of this new exploration area of the Gulf of Mexico in which Total
holds a substantial acreage position with several follow-on prospects.
North Platte is located in a water depth of approximately 4,400 feet (1,340 m)
and was drilled to a total depth of approximately 34,500 feet (10,520 m).
Total holds a 40% interest in the North Platte discovery along with Cobalt
Total Exploration and Production in the USA
In the Gulf of Mexico, Total holds a 33.3% interest in the Chinook field,
which is also located in the WiIcox formation reservoir, and a 17% interest in
the Tahiti field.
Total also holds a 25% interest in joint ventures with Chesapeake involved in
the Utica and Barnett unconventional onshore resource plays.
The Group's production in the USA was at 56,000 barrels of oil equivalent per
day in 2011.
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Total is one of the largest integrated oil and gas companies in the world,
with activities in more than 130countries. The Group is also a first rank
player in chemicals. Its 96,000employees put their expertise to work in every
part of the industry – exploration and production of oil and natural gas,
refining and marketing, new energies, trading, and chemicals. Total is working
to help satisfy the global demand for energy, both today and tomorrow.
Tel. : (33) 1 47 44 58 53
Fax : (33) 1 47 44 58 24
Robert HAMMOND (U.S.)
Tel. : (1) 713-483-5070
Fax: (1) 713-483-5629
Capital 5912835 657,50 euros
542 051 180 R.C.S. Nanterre
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