Total Enters a New Operated Exploration Permit in Egypt
04 Janvier 2021 - 8:38AM
Business Wire
Regulatory News:
Total (Paris:FP) (LSE:TTA) (NYSE:TOT):
An international consortium led by Total (Total 35% Operator,
Shell 30%, KUFPEC 25%, Tharwa 10%) and the Egyptian Natural Gas
Holding company (EGAS) have signed an exploration and production
agreement for the North Ras Kanayis Offshore block located in the
Herodotus Basin, offshore Egypt in the Mediterranean Sea.
This exploration block covers an area of 4,550 sq km, extending
from 5 to 150 km from the shore, with water depths ranging from 50
to 3,200 m. The Herodotus Basin is an underexplored area and the
agreement includes a 3D seismic campaign during the first three
years.
‘‘Total is pleased to further strengthen its Eastern
Mediterranean position as an operator of this exploration and
production agreement’’, commented Kevin McLachlan, Senior Vice
President Exploration at Total. “We are excited by the
exploration potential of the North Ras Kanayis Offshore block. It
reinforces our presence in Egypt, following a gas discovery made in
July 2020 with the Bashrush well on the North El Hammad license, to
be developed through a tie-in to nearby existing
infrastructure.”
Total holds a working interest of 25% in the North El Hammad
license, alongside operator ENI (37.5%) and BP (37.5%).
About Total
Total is a broad energy company that produces and markets fuels,
natural gas and electricity. Our 100,000 employees are committed to
better energy that is more affordable, more reliable, cleaner and
accessible to as many people as possible. Active in more than 130
countries, our ambition is to become the responsible energy
major.
Cautionary Note
This press release, from which no legal consequences may be
drawn, is for information purposes only. The entities in which
TOTAL SE directly or indirectly owns investments are separate legal
entities. TOTAL SE has no liability for their acts or omissions. In
this document, the terms “Total”, “Total Group” and Group are
sometimes used for convenience. Likewise, the words “we”, “us” and
“our” may also be used to refer to subsidiaries in general or to
those who work for them.
This document may contain forward-looking information and
statements that are based on a number of economic data and
assumptions made in a given economic, competitive and regulatory
environment. They may prove to be inaccurate in the future and are
subject to a number of risk factors. Neither TOTAL SE nor any of
its subsidiaries assumes any obligation to update publicly any
forward-looking information or statement, objectives or trends
contained in this document whether as a result of new information,
future events or otherwise.
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