TTA: TOTAL: Nigeria: Total Launches EGINA Development on OML 130

  TTA: TOTAL: Nigeria: Total Launches EGINA Development on OML 130

UK Regulatory Announcement


Total (Paris:FP) (LSE:TTA) (NYSE:TOT) today announces that its subsidiary
Total Upstream Nigeria Limited (TUPNI), operator of the OML 130 block, and
co-venturers have obtained the necessary approvals from Nigerian National
Petroleum Corporation to award the main EPC contracts for the development of
the offshore Egina field.

The field, discovered in 2003, is located in water depths of around 1,600
meters, 200 kilometers offshore Port Harcourt and 20 kilometers southwest of
the Akpo field, located on the same license.

“Egina is the second development of the OML 130 license. Following Akpo, which
was brought on stream in 2009, it will add significant value to the
partnership. With more than 21 million man-hours of local work, the project
will make a material contribution to the development of Nigerian economy.
After more than 50 years in the country, we are confident that Nigeria will
continue to provide a suitable framework to promote investments” commented
Yves-Louis Darricarrère, President of Upstream at Total.

The field development plan calls for 44 wells connected to a 330 meter-long
floating production, storage and offloading (FPSO)vessel with a storage
capacity of 2.3million barrels. The design of the FPSO includes capacity for
future developments of nearby discoveries. First oil is expected end-2017,
with output reaching 200,000 barrels of oil per day at plateau.

TUPNI has a 24% interest alongside the OML 130 partners: NNPC (Nigerian
National Petroleum Corporation), SAPETRO (South Atlantic Petroleum) of
Nigeria, CNOOC Limited of China and Petrobras of Brazil.

Total Exploration & Production in Nigeria

In 2012, Total celebrates fifty years of its presence in Nigeria. The Group’s
production in Nigeria was at 279,000 barrels of oil equivalent per day in

Deepwater developments are one of Total’s main growth avenues in Nigeria,
where the Group operates the Akpo field in OML 130 and is also preparing to
develop the Egina field in the same lease.

Offshore production also comes from OMLs 99, 100 and 102, which are operated
by the Group as part of a joint-venture with NNPC. The main fields in these
leases are Amenam-Kpono, Edikan and Ofon. Total recently commenced the second
phase of the Ofon development which is mostly intended to recover natural gas
reserves. Ofon phase 2 is a step forward in the Group’s plan to reduce its gas
flaring and greenhouse gas emissions.

Total’s onshore production comes from OML 58, which it also operates as part
of its joint-venture with NNPC. A project is underway to increase the lease’s
natural gas and condensate production capacity to supply the domestic market.

In addition, Total has significant equity production in Nigeria from its
interests in non-operated ventures, particularly the NNPC/SPDC joint venture
(10%) and SNEPCO operated PSC (12.5%), which includes the Bonga field. Total
also has a 15% interest in Nigeria LNG, whose liquefied natural gas production
capacity was increased to 21.9 million metric tons per year when Train 6 was
brought on stream in late 2007.

Total deploys an assertive local content policy in Nigeria, with locally
worked hours accounting for 60% and 90% respectively for Usan and OML 58
projects, and likely to reach 75% for Egina. The Group is also helping
Nigerian contractors to build deepwater expertise, especially in the Niger
Delta, a region that is home to more than half of Total’s Nigerian employees
and most of its operations in the country.

                                  * * * * *

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 97,000employees 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 5941838402,50 euros
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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


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