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TOTAL acquires interest in two very deep offshore blocks in Gabon |
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| Nov. 03, 98 |
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TOTAL has acquired a 28% interest in two exploration blocks located deep offshore Gabon, along the maritime border with Congo. TOTAL is the block operator; its partners are the US based Unocal (25%), Kerr Mac Gee (14%), Vanco Energy (22%) and RB Falcon (11%).
The blocks, known as Astrid and Anton, respectively covers 6,000 square kilometers and 6,600 square kilometers. Both are located at a water depth between 1,000 and 3,000 meters, around 80 kilometers from the southern Gabonese coast in the northern part of the lower Congo oil basin.
A 3D seismic campaign should begin in 1999, followed by drilling of several appraisal wells starting in 2000 and 2001.
TOTAL's acquisition of an interest in these two blocks confirms the Group's commitment to pursing an active development strategy deep offshore in the Gulf of Guinea. This transaction comes after major discoveries on Block 14 offshore Cabinda, Angola and the acquisition of an interest in the nigerian OPL246 exploration block located south of the Niger delta. |
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