Northern Europe remains the Group's No. 1 production region, accounting for nearly 35% of TotalFinaElf's worldwide production in 2000. TotalFinaElf is one of the major players in this mature area, which continues to offer profitable opportunities in a highly developed and competitive operating environment. The Group's activities notably include development of the Elgin-and Franklin fields, with the first phase of production scheduled for the end of the first quarter of 2001.
Norway is the largest contributor to the Group's oil and gas production. Output rose 10% over 1999, reaching 331,100 boe/d in 2000, or 15.6% of the Group's total production. In the recent 16th Licensing Round in the Norwegian Sea, the Group's Norwegian subsidiary obtained interests in four permits, including one for which it was awarded operatorship. On the Aasgard field, the semi-submersible Aasgard platform was installed in late April, and gas production started on October 1, 2000.
In the United Kingdom, production in 2000 reached 279,000 boe/d, or 13.2% of the Group's overall output, with natural gas accounting for nearly half of this volume. Spot prices for gas were sharply higher, mainly because of an upswing in prices for competing oil products. In the UK continental shelf, new advances were made in the development of the high-pressure, high-temperature Elgin and Franklin fields, and the associated transport systems, where TotalFinaElf is operator through its 46.2% interest in EFOG. A new milestone was reached with the installation of the offshore production, utilities and quarters platform in July 2000, and work continued with finishing operations, tie-in to the wellhead platforms and the export systems, as well as preparations for commissioning. In the Alwyn Area (TotalFinaElf 100%, operator), a major project was launched to renovate control systems. The cluster development of three of the four Alwyn satellites, known as Nuggets (TotalFinaElf 100%, operator), was also initiated, for production start-up in 2001. The Group continued to rationalize its assets in the United Kingdom. Divestments primarily concerned declining fields (Caister as well as Piper, Claymore, Scapa and other fields from the UK's 4th Licensing Round) and interests in the associated transport systems.
In the Netherlands, the Dutch Government passed several measures improving the tax system for offshore activities. Their positive impact on the subsidiary's financial results will start to be felt in 2001. Offshore development work was sustained, leading to the start-up of production from all fields in the northern North Sea (TotalFinaElf 57%). This acreage's gas reserves are divided among four fields, three of which were brought on stream in 2000.
In France, the Group produced 44,300 boe/d in 2000. This production, slightly lower than in 1999, included 60 Bcf of commercial gas from Lacq-Meillon in south-west France.
|
 |
|
|
