Balal field reaches production level of 40,000 b/d

Total's Iranian Balal offshore field has reached a production level of 40,000 b/d, and the National Iranian Oil Co. (NIOC) has taken operatorship of the production and living quarters platform as planned in the contract.

Sep 16th, 2003

Total's Iranian Balal offshore field has reached a production level of 40,000 b/d, and the National Iranian Oil Co. (NIOC) has taken operatorship of the production and living quarters platform as planned in the contract.

The Balal field is near Iran's Lavan Island in the Persian Gulf and first entered into production in January 2003.

Production is exported from the offshore platform using subsea pipeline and processing facilities on Lavan Island operated by the NIOC.

The field was developed under a buy-back contract signed with the NIOC and a partnership made up of Total with a 46.75% interest, Eni 38.25%, and Bow Valley 15%.

09/16/03

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