Total Finalizes entry in OPL 247 offshore Nigeria

Offshore staff

PARIS -- Total's Nigerian subsidiary Elf Petroleum Nigeria Ltd. has finalized acquisition of a 36% share in deepwater oil prospecting lease (OPL) 247, operated by Chevron.

OPL 247 lies 150 km (93 mi) offshore southeast Nigeria in water depths of 1,000-1,500 m (3,280-4,921 ft). It is near the main deep offshore operations being developed by Total.

This acquisition extends Total's deepwater acreage offshore Nigeria, where it operates five blocks near OPL 247. The blocks include OML 130 (Akpo and Egina), OPL 221, OPL 222 (Usan), and OPL 223.

Total has gathered 3D seismic data over OPL 247 and is preparing to drill a well based on interpretation.

7/31/2007