Total Launches Moho Nord Development in the Republic of the Congo

  Total Launches Moho Nord Development in the Republic of the Congo

Business Wire

PARIS -- March 22, 2013

Regulatory News:

Total (Paris:FP) (LSE:TTA) (NYSE:TOT), operator of the Moho-Bilondo license,
today announces the final investment decision and EPC contract awards for the
MohoNord development, consisting of the Moho-Bilondo Phase 1bis and Moho Nord
projects. First oil is expected in 2015, with output reaching 140,000 barrels
of oil equivalent per day (boe/d) in 2017. The joint development represents an
investment of US$10billion.

Located approximately 75 kilometers from Pointe-Noire and 25 kilometers west
of N’Kossa in water depths ranging from 450 to 1,200 meters, the Moho Nord
project will target additional reserves in the southern part of the license
(Phase 1bis) and new reserves in the northern part (Moho Nord). The additional
reserves are estimated at approximately 485million barrels of oil equivalent.

“The development of Moho Nord marks another milestone in Total’s long
established presence in the Republic of the Congo and leverages our
demonstrated expertise in successfully managing major projects, especially in
the deep offshore. The launch enhances visibility on Total’s production growth
objective,” commented Yves-Louis Darricarrère, President of Total Upstream.

The project is the latest step in developing the license, following on from
Moho-Bilondo Phase 1E, brought on stream in 2008.

For Phase 1bis, a total of 11 subsea wells in the Miocene will be tied back to
the existing FPU on Moho-Bilondo, whose processing capacity will be increased
by 40,000 boe/d. For Moho Nord, 17 subsea wells targeting Miocene reservoirs
will be drilled and tied back to a new floating production unit (FPU) and 17
more subsea wells targeting Albian reservoirs will be developed from a new
build tension leg platform. Before being exported by pipeline to the onshore
Djeno Terminal, the new production will be processed on the FPU, which will
have a capacity of 100,000 boe/d.

The installations have been designed to limit environmental impact. Measures
include eliminating flaring under normal operating conditions and reinjecting
all produced water.

As part of the project, Total will promote local content by encouraging
development of the regional industrial base.

Total E&P Congo, the Group’s wholly owned subsidiary, operates the
Moho-Bilondo license with a 53.5% interest, alongside state-owned Société
Nationale des Pétroles du Congo (15%) and Chevron Overseas Congo (31.5%).

Total Exploration & Production in the Republic of the Congo

Present in the Republic of the Congo since 1968, Total is the country’s
leading oil producer. Total E&P Congo operates 10 of the 22 fields developed,
accounting for nearly 60% of national output. The Group’s net equity
production averaged 113,000 boe/p in 2012.

In the Republic of the Congo, as in all countries where it operates, Total
fully recognizes its responsibilities to local communities and in the area of
environmental protection. The Group is supporting long-term projects in the
country focused on education, public health, local economic development and
the environment.

                                  * * * * *

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.

Capital 5914832 865 euros
542 051 180 R.C.S. Nanterre


2, place Jean Millier
Arche Nord Coupole/Regnault
92 400 Courbevoie France
Tel. : (33) 1 47 44 58 53
Fax : (33) 1 47 44 58 24
Matthieu GOT
Robert HAMMOND (U.S.)
Robert PERKINS (U.S.)
Tel. : (1) 713-483-5070
Fax: (1) 713-483-5629
Press spacebar to pause and continue. Press esc to stop.