Total E&P Norge Snags Stake in Barents Sea Production License 535
Total announced that following the twentieth licensing round organized by the Ministry of Petroleum and Energy in Norway, its affiliate, Total E&P Norge AS, has been awarded a 40% interest and operatorship in the production license PL 535 in the Barents Sea.
With this new licence, Total continues to build a solid portfolio for a long-term presence in Norway. Total is firmly committed to actively pursuing, both as operator and partner, future opportunities to explore and develop Norway's oil and gas resources.
About the license
The Barents Sea license PL 535 covers blocks 7225/3 and 7226/1, containing the Nordvarg prospect.
The license, located by about 370 meters of water depth, is situated approximately 275 kilometers from the Snohvit LNG plant at Melkoya (Total 18.4%), near Hammerfest on the North Norwegian coast.
Alongside Total E&P Norge AS, Aker Exploration AS, Rocksource ASA and North Energy AS, have each been awarded a 20% interest in the exploration license.
Total Exploration and Production in Norway
Norway is the single-largest contributor to the Group's production, with approximately 335,000 barrels of oil equivalent per day in 2008. This production comes from participations in 35 fields on the Norwegian Continental shelf, 40% of which come from Total's 39.9% interest in the Ekofisk area.
In 2009 Total is actively pursuing growth opportunities in Norway, in particular drilling an important appraisal well on the Victoria gas discovery in the Norwegian Sea, to be followed by an appraisal/development well on the Hild discovery in the northern part of the North Sea.
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