Total acquires interests in Africa's Côte d’Ivoire

Feb 17, 2012 12:00 AM

Total announces the signature of production sharing agreements with the Côte dIvoire state and national oil company Petroci for three new ultra-deep offshore licenses. Total will operate the CI-514 license with a 54 % interest, in partnership with Canadian Natural Ressources International (36 %) and Petroci (10 %).
Total will also hold a 45 % interest in the CI-515 and CI-516 licenses, alongside Anadarko (45 %) and Petroci (10 %). For each block Total will become the operator upon the first commercial discovery.

The
licenses are situated approximately 100 km offshore Côte dIvoire and cover an area of 3,200 square km with water depths ranging from 2,000 to 3,000 meters. The work program includes a 3D seismic survey of the whole acreage and one well to be drilled on each block during the initial three-year exploration period.
"Total
is very pleased with this new exploration opportunity in Côte dIvoires ultra-deep offshore, a field in which our expertise is globally recognized,said Marc Blaizot, Totals Senior Vice President, Exploration.

The so-called Abrupt Margin theme that we will be exploring in this acreage is a core growth driver for the future. In particular, we are targeting the same theme in exploration licenses in French Guiana, where a promising discovery has already been made, and in Mauritania.
Total is already present in exploration activities in Côte dIvoire as operator of the CI-100 deep offshore license with a 60 % participation. This license covers a surface of 2,000 square km in water depths from 1,500 to 3,100 meters. A complementary seismic campaign of 1,000 square km was launched end 2011 in order to finalize the 3D studies of the whole permit. First exploration drilling is planned for end 2012.

Total
in Côte d'Ivoire
The
Group is also active in refining via its interest in the Société Ivoirienne de Raffinage (SIR) refinery and in marketing, with a service station network that makes Total Côte dIvoire the countrys leading fuel retailer.

Total2012cartecoteivoirevignette.jpg

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