Re Agreement
17 November 2003 - 7:13PM
UK Regulatory
RNS Number:1226S
Total S.A.
15 November 2003
Total Signs Agreement to Explore the Southern
Part of the Rub Al-Khall
Paris, November 15 , 2003 - Total announces the official signature of the
agreement under which a consortium comprising Saudi Aramco, Shell and Total will
explore a gas area covering more than 200,000 square kilometers in the southern
part of the Rub Al-Khali (Empty Quarter) in the Kingdom of Saudi Arabia.
The agreement was signed today in Riyadh by His Excellency Ali I. Al-Naimi,
Saudi Arabia's Minister of Petroleum and Mineral Resources, and the Chairmen of
the three companies concerned.
Total, with a 30% interest, is partnered with Saudi Aramco (30%) and Shell
(40%), leader of the joint venture that will be formed by year-end. Tenders for
seismic surveying are expected to be issued in first-quarter 2004. In the event
of a discovery, the gas produced will contribute to the industrial development
of the Kingdom.
"Total is honored and delighted to have been chosen by Saudi Arabia to take part
in the long-term development of its gas resources. This agreement will enable
Total to further strengthen its long-standing cooperation with Saudi Aramco.
Total will bring its experience, expertise and technology to the joint venture
to ensure the project's success," commented Thierry Desmarest, Chairman and CEO
of Total.
Total is the fourth largest oil and gas company in the world with operations in
more than 130 countries. Total's activities cover the whole energy chain of the
petroleum industry: exploration, oil and gas production, refining and marketing,
trading and power generation. The Group is also a major player in chemicals
through its chemicals branch, Atofina. Total has 121,500 employees worldwide.
More information can be found on the company's website: www.total.com
This information is provided by RNS
The company news service from the London Stock Exchange
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