Total (Paris:FP) (LSE:TTA) (NYSE:TOT) announces that the Tahiti
field located in the Gulf of Mexico started production on May 5,
2009. This deepwater field, operated by Chevron, in which Total
owns a 17% interest along with StatoilHydro, is one of the largest
fields in the Gulf of Mexico. It is expected to reach a plateau
production of approximately 125,000 barrels of crude oil per day
and 70 million cubic feet of natural gas per day before the end of
the year.
At plateau, the Tahiti field will contribute to Total's
production in the United States by more than 20,000 barrels of oil
equivalent per day (boe/d).
The stake in the Tahiti field was acquired in 2005, as part of
Total's strategy to focus in the deep offshore part of the Gulf of
Mexico.
About the Tahiti field
The Tahiti field was discovered in 2002 and holds estimated
proved and probable reserves of more than 400 million barrels of
oil equivalent. The first phase of the field development consists
of a floating spar production system producing from six subsea
wells, representing an investment of 2.7 billion US dollars.
Tahiti is located approximately 300 kilometres south of New
Orleans and in over 1,200 meters of water. The field is in a
Miocene play where the sands are expected to have good production
and recovery rates.
Total Exploration and Production in the Gulf of Mexico
Earlier this year Total signed a series of agreements with
Cobalt International Energy to jointly explore a combined portfolio
of 214 blocks in the Gulf of Mexico. These agreements will form the
basis of a strategic alliance in an area that offers promising
exploration opportunities.
In 2008, the Group's production in the Gulf of Mexico amounted
to 6,000 boe/d with most of it coming out of Total's two operated
producing deep shelf fields: Matterhorn and Virgo.
Furthermore, the Group is committed to developing the first
phase of the offshore Chinook project, operated by Petrobras and on
which Total holds a 33.33% interest, with a production test
scheduled for 2010.
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Total is one of the world's major oil and gas groups, with
activities in more than 130 countries. Its 97,000 employees put
their expertise to work in every part of the industry - exploration
and production of oil and natural gas, refining and marketing, gas
& power and trading. Total is working to keep the world
supplied with energy, both today and tomorrow. The Group is also a
first rank player in chemicals. www.total.com
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