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TOTALFINA Reports New Promising Deep Water Discovery in Gulf of Mexico |
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| Aug. 17, 99 |
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TOTALFINA has announced an initial gas discovery on Mississippi Canyon Block 348 in the Gulf of Mexico, located in deep waters roughly 220 kilometers southeast of New Orleans, on the Camden Hills prospect. TOTALFINA holds a 16.67% interest in the block, alongside Marathon Oil, operator with a 50.03% interest, and WI Inc. (33.3%).
The MC348-1 discovery well was drilled to a depth of 4,600 meters, in waters approximately 2,200 meters deep, and encountered a gas pay of approximately 60 meters high.
Additional appraisal drilling will be conducted by the end of the year to confirm the potential of this new discovery, which is already considered promising by TOTALFINA. Last March, TOTALFINA reported an initial oil discovery on Mississippi Canyon Block 942, in which it owns a 50% interest.
These two successful exploration campaigns are highly positive signs for TOTALFINA. In recent years, the Group has focused its US strategy on developing a large deepwater permit area in the Gulf of Mexico, which is considered to be one of the most promising regions, along with the Gulf of Guinea. Today TOTALFINA has shares in more than 80 deepwater blocks in the Gulf of Mexico. |
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