TTA: TOTAL: Total Enters Deep Offshore Exploration in Cyprus
UK Regulatory Announcement
Total (Paris:FP) (LSE:TTA) (NYSE:TOT) announces that it has signed two
production sharing contracts (PSCs), for Blocks10 and 11, with the Republic
of Cyprus. The PSCs were awarded as part of the second offshore exploration
licensing round, launched by the Cypriot government in 2012.
The licenses extend over 2,572square kilometers and 2,958square kilometers
respectively, southwest of Cyprus, in water depths ranging from 1,000 to
The exploration program will begin with seismic surveys.
“We are delighted with this new exploration acreage, where we will be
conducting an extensive seismic program, shooting 3D seismic on Block 11 and
2D seismic on Block 10. Each block is targeting a different play,” commented
Arnaud Breuillac, SeniorVice President, Middle East at Total Exploration &
Production. “This acreage acquisition is aligned with Total’s ambitious
exploration strategy focused on new acreage and plays.”
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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
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