Australia: New Gas Discovery in the Browse Basin

07/08/2008

News

August 7, 2008: Total announces a gas discovery from the Mimia-1 exploration well on the WA-344P permit (Total 40%), in Australia.

Total E&P Australia and Inpex (operator, 60%) acquired the WA-344P exploration acreage in November 2007 and completed the Mimia-1 well in July 2008. A 72 metre gas column was found and a production test completed recently confirmed the discovery of gas and condensate.

The Mimia-1 well was drilled in a water depth of 254 metres and is located approximately 20 kilometres north-east of the WA-285P (Inpex 76%,Total 24%) which contains the giant Ichthys gas-condensate field (close to 13 Trillion cubic feet of recoverable gas and 530 Million barrels of recoverable liquids).

Inpex and Total are preparing the development of the Ichthys field and are considering how the Mimia discovery could best be incorporated into this development.

Total in Australia

This latest discovery reaffirms Total’s belief in the potential of the Browse basin in the North West Shelf, where the Group has been present since 2006. Total has interests in fourteen permits offshore of the northwest coast of Australia, of which it operates four. In particular, the Group holds a 24% interest in the WA-285P license, where the Ichthys field has been discovered, and for which a liquefied natural gas development project is under preparation. Production from this project should start up towards the middle of the next decade.

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