Bongkot JV Ink Sales Agreement for GBS Gas Production

Total and the partners of the Bongkot Joint Venture announce that a Gas Sales Agreement has been signed with PTT covering all gas production from the Greater Bongkot South (GBS) field in the Gulf of Thailand. The Joint Venture is operated by PTTEP (44.45%), alongside partners Total (33.33%) and BG Group (22.22%).

With all the construction contracts for the GBS development being awarded, GBS first production is expected in 2012. At plateau, GBS will contribute 20,000 barrels of oil equivalent per day to Total's production, an increase of approximately 50% to the Group's production in Thailand. This development will enable the Bongkot Joint Venture to further contribute to the increasing gas demand in Thailand.

GBS Development

The offshore GBS field is located in Gulf of Thailand's blocks B16 and B17, approximately 200 kilometers East of Songkhla. This new standalone development will consist of a central processing platform, a quarters platform and 13 wellhead platforms.

The processing platform will have a capacity of 350 million cubic feet of gas per day and 15,000 barrels of condensate per day. Gas will be exported via a new build spur line to the PTT 3rd trunk line while condensate will be exported to the existing Floating, Storage and Offloading (FSO) vessel at the Greater Bongkot North field, which is located 80 kilometers to the north.