Total (Paris:FP) (LSE:TTA) (NYSE:TOT) announces that it has
signed agreements for a 20-year extension of its 15% participation
in Abu Dhabi Gas Industries Limited Company ("Gasco"), alongside
the Abu Dhabi National Oil Company ("Adnoc", 68%), Shell (15%) and
Partex (2%).
The agreements consolidate the commitment of Gasco's
shareholders to the company's safe and efficient operations, as
well as its striving to continuously improve environmental
performance through technical support and technology transfer.
Since 1924, Total has been developing long term partnerships in
the Middle East. By signing these agreements, Total is pleased to
extend and further strengthen its historic cooperation with Adnoc
and Abu Dhabi.
About Gasco
Gasco was created in 1978 to process the associated gas from the
Bab, Bu Hasa and Asab oil fields, extract the natural gas liquids
(C3+) for the Joint Venture shareholders, and deliver the ethane
and residue lean gas (essentially methane) to Adnoc. On behalf of
Adnoc, Gasco also operates the processing and liquids extraction
facilities of other associated and non-associated onshore gas, as
well as fractionation, transportation, storage and export
facilities related to the above operations.
Total Exploration and Production in the United Arab Emirates
In the United Arab Emirates, where Total has been present since
1939, Total's production was 243 kboe/d in 2008.
In Abu Dhabi, Total holds interests in the Abu Al Bu Khoosh
field (75%, operator), in the Abu Dhabi Company for Onshore Oil
Operations (ADCO, 9.5%), which operates the five principal onshore
fields in Abu Dhabi, and in Abu Dhabi Marine (ADMA, 13.3%), which
operates two offshore fields. Total also has interests in Abu Dhabi
Gas Liquefaction Company (ADGAS, 5%), which produces LNG, LPG and
condensates.
The Group also holds a 33.3% interest in Ruwais Fertilizer
Industries (FERTIL), which produces ammonia and urea.
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Total is one of the world's major oil and gas groups, with
activities in more than 130 countries. Its 96,000 employees put
their expertise to work in every part of the industry - exploration
and production of oil and natural gas, refining and marketing, gas
& power and trading. Total is working to keep the world
supplied with energy, both today and tomorrow. The Group is also a
first rank player in chemicals. www.total.com