Total had signed an agreement with Australia's Santos Ltd. to acquire 39.9% interest in a block offshore Bali, Indonesia. Total has the right to obtain an additional 10.1% interest in the block.

Water depths in the 3,450-sq-km North Bali 1 PSC range from 100 to 970 m.

A 2D seismic survey was gathered last January. An exploration well is scheduled by year-end. Total subsidiary, Total E&P North Bali I, will become operator following the first exploration period.

This acquisition is part of Total's strategy to expand its deepwater operations.

8/5/04