Total ups stake in Victoria

Total aims to become operator of undeveloped Norwegian gas discovery Victoria

Offshore staff

(Paris). Total E&P Norge is to acquire ExxonMobil's 30% interest in the PL211 license in the Norwegian Sea. The acreage includes the undeveloped Victoria gas field, formerly known as Bella Donna, in a water depth of 400 m.

If Norway's authorities approve the transaction, Total's stake in the discovery would rise to 50%, and the company would also seek to become operator of the license. In part-exchange, ExxonnMobil will receive 5% of Total's share of the Tyrihans field in the same sector, which is currently under development.

In the UK Northern North Sea, Total has brought the Forvie North gas/condensate field onstream, nine months after its development scheme was sanctioned. It is being produced through subsea facilities linked to the Alwyn North platform, 33-km away. Production should reach 20,000 boe/d at peak.

1/12/06

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