Total Signs an Agreement in View of Developing an Integrated Gas Project in the Sultanate of Oman
May 14 2018 - 1:39AM
Business Wire
Regulatory News:
Total (Paris:FP) (LSE:TTA) (NYSE:TOT) has signed a Memorandum of
Understanding (MoU) with the Government of Oman to develop natural
gas resources in Oman. This MoU covers both upstream and downstream
businesses.
Total and Shell as operator will develop several natural gas
discoveries located in the Greater Barik area on onshore Block 6
with respective shares of 25% and 75%, as per the agreement between
both companies and before possible State back-in, with the
objective of an initial gas production of around 500 MMcfd and a
potential to reach 1 bcf/d at a later stage.
Total will use its equity gas entitlement as feedstock to
develop in Oman a regional hub for Liquefied Natural Gas (LNG)
bunkering service to supply LNG as a fuel to marine vessels. This
will be achieved thanks to a new small-scale modular liquefaction
plant to be built in Sohar port. The plant will comprise a train of
around 1 Mt per year and will offer the flexibility for expansion
as required by the development of the LNG bunkering market.
“We are pleased to sign this MoU with the Sultanate of Oman that
will give us access to new gas resources and the opportunity to
develop an integrated gas project,” stated Arnaud Breuillac,
President Exploration & Production at Total. “We will bring our
expertise in LNG and will introduce access to a new gas market for
the Sultanate. Developing an LNG bunkering service will generate
in-country value and job opportunities, and will support industry
diversification through fostering the shipping activity in
Oman.”
Total Exploration & Production in Oman
In Oman, the Group’s production was 37 kboe/d in 2017. Total
produces oil in Block 6 (4%) and in Block 53 (2%), as well as LNG
through its participation in the Oman LNG (5.54%)/Qalhat LNG
(2.04%) liquefaction complex with an overall capacity of 10.5
Mt/y.
About Total
Total is a global integrated energy producer and provider, a
leading international oil and gas company, a major player in
low-carbon energies. Our 98,000 employees are committed to better
energy that is safer, cleaner, more efficient, more innovative and
accessible to as many people as possible. As a responsible
corporate citizen, we focus on ensuring that our operations in more
than 130 countries worldwide consistently deliver economic, social
and environmental benefits.
Cautionary note
This press release, from which no legal consequences may be
drawn, is for information purposes only. The entities in which
TOTAL S.A. directly or indirectly owns investments are separate
legal entities. TOTAL S.A. has no liability for their acts or
omissions. In this document, the terms “Total” and “Total Group”
are sometimes used for convenience where general references are
made to TOTAL S.A. and/or its subsidiaries. Likewise, the words
“we”, “us” and “our” may also be used to refer to subsidiaries in
general or to those who work for them.
This document may contain forward-looking information and
statements that are based on a number of economic data and
assumptions made in a given economic, competitive and regulatory
environment. They may prove to be inaccurate in the future and are
subject to a number of risk factors. Neither TOTAL S.A. nor any of
its subsidiaries assumes any obligation to update publicly any
forward-looking information or statement, objectives or trends
contained in this document whether as a result of new information,
future events or otherwise.
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