UK: Total Announces a New Discovery in the North Sea
29 Enero 2019 - 01:15AM
Business Wire
Regulatory News:
Following Glendronach in September 2018, Total (Paris:FP)
(LSE:TTA) (NYSE:TOT) announces a new significant discovery in the
North Sea offshore U.K., on the Glengorm prospect located in the
Central Graben.
The well was drilled to a final depth of 5,056 meters and
encountered 37 meters net gas and condensate pay in a
high quality Upper Jurassic reservoir with excellent
properties.
Recoverable resources are estimated close to 250 million barrels
of oil equivalent. Further drilling and testing will be carried out
to appraise resources and the productivity of the reservoir.
“Following the recent Glendronach discovery, West of Shetland in
the U.K., Glengorm is another great success for Total in the North
Sea, with results at the top end of expectations and a high
condensate yield in addition to the gas,” stated Kevin McLachlan,
Senior Vice President Exploration at Total. “Our strong position in
the region will enable us to leverage existing infrastructures
nearby and optimize the development of this discovery. Glengorm is
an achievement that demonstrates our capacity to create value in a
mature environment thanks to our in-depth understanding of the
basin.”
The discovery is located on the P2215 license, which was
previously part of the Maersk Oil portfolio, in water depth of
about 80 meters, close to existing infrastructures operated by
Total and offering tie-back possibilities, such as the
Elgin-Franklin platform and the Culzean project, scheduled to start
production this year. It also presents some upside potential with
several other prospects already identified on the same block.
Total holds a 25% working interest in the Glengorm discovery,
alongside CNOOC Petroleum Europe Limited, a wholly-owned subsidiary
of CNOOC Limited (50%, operator) and Euroil, a wholly-owned
subsidiary of Edison E&P SpA (25%).
Total Exploration & Production in the United
Kingdom
Total has been present in the United Kingdom for more than 50
years and is one of the country’s leading oil and gas operators,
with equity production of 179,000 boe/d in 2018. Total’s production
in the United Kingdom comes principally from operated fields
located offshore in three major zones, the Alwyn/Dunbar area in the
Northern North Sea, the Elgin/Franklin area in the Central North
Sea and the Laggan-Tormore hub in the West of Shetland area where
the Glendronach discovery was made last year, and from recently
acquired Maersk Oil assets.
Total also operates the Culzean gas field with a 49.99% working
interest.
About Total
Total is a major energy player, which produces and markets
fuels, natural gas and low-carbon electricity. Our 100,000
employees are committed to better energy that is safer, more
affordable, cleaner and accessible to as many people as possible.
Active in more than 130 countries, our ambition is to become the
responsible energy major.
* * * * *
Cautionary note
This press release, from which no legal consequences may be
drawn, is for information purposes only. The entities in which
TOTAL S.A. directly or indirectly owns investments are separate
legal entities. TOTAL S.A. has no liability for their acts or
omissions. In this document, the terms “Total” and “Total Group”
are sometimes used for convenience where general references are
made to TOTAL S.A. and/or its subsidiaries. Likewise, the words
“we”, “us” and “our” may also be used to refer to subsidiaries in
general or to those who work for them.
This document may contain forward-looking information and
statements that are based on a number of economic data and
assumptions made in a given economic, competitive and regulatory
environment. They may prove to be inaccurate in the future and are
subject to a number of risk factors. Neither TOTAL S.A. nor any of
its subsidiaries assumes any obligation to update publicly any
forward-looking information or statement, objectives or trends
contained in this document whether as a result of new information,
future events or otherwise.
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