Total Acquires Interests on Blocks OPL 279 & 285

Source: www.gulfoilandgas.com 11/4/2008, Location: Africa

Total announces that it has signed an agreement with OMEL(1) Energy Nigeria Limited (OENL) and OMEL Exploration and Production Nigeria Limited (OEPNL) to acquire interests of 25.67% in deep offshore license OPL 285 and 14.5% in deep offshore license OPL 279. OENL will remain the operator for block OPL 285 and OEPNL the operator for block OPL 279. The Nigerian company EMO Exploration and Production Limited is also partner on both of the blocks.

The necessary approvals have been obtained from the Nigerian authorities. Covering an area of around 1,170 square kilometers, OPL 285 is located approximately 80 kilometers offshore, near the Bonga field, in water depths ranging from 400 to 900 metres.

OPL 279 is located some 100 kilometres offshore, near the Ehra and Bosi fields, in water depths ranging from 800 to 1,800 meters. The license covers an area of around 1,125 square kilometres.

For each block, the first exploration period, which ends in 2012, encompasses the committments of acquisition and processing of 500 square kilometres of 3D seismic and the drilling of one exploration well. In the second five year exploration period, which is optional, the work commitments will cover the acquisition of a further 500 square kilometres of 3D seismic and the drilling of two exploration and/or appraisal wells


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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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