Total finds ultra-deep oil offshore Congo

Offshore staff

PARIS -- Total has found a new oil discovery in the ultra-deep offshore block Mer Très Profonde Sud (MTPS), which lies approximately 170 km (106 mi) offshore Republic of the Congo in 2,000 m (6,562 ft) water depth.

The Cassiopée Est Marine-1 discovery well was drilled to a TD of 3,330 m (10,925 ft) and tested at 5,600 b/d of oil. Total is evaluating the reserves related to this discovery.

Following Andromède in 2000, Pégase Nord in 2004, and Aurige Nord in 2006, this latest drilling success is the fourth oil discovery in the MTPS permit.

The discovery strengthens the company's exploration strategy in the Republic of Congo, which aims at building an economically viable pole of development in this ultra deepwater permit, Total says.

Field development studies will be launched once the related reserves are assessed.

Awarded in May 1997, the MTPS block extends over more than 5,000 sq km (1,930.5 sq mi) in water depths ranging from 1,300 to 3,000 m (4,265-9,842 ft). Total subsidiary Total E&P Congo operates the license with 40% interest. Partners include Eni Congo with 30% interest and Esso Exploration and Production Congo (Mer Très Profonde Sud) Ltd. with the remaining 30% share.

8/8/2007