Total Wins New Barents Sea Stake

4 June 2009 (Last Updated June 4th, 2009 18:30)

Total has been awarded a 40% interest in production licence (PL) 535 in the Barents Sea, Norway. The award follows the 20th licensing round organised by the Ministry of Petroleum and Energy in Norway and its affiliate, Total E&P Norge. The Barents Sea licence PL 535 cover

Total has been awarded a 40% interest in production licence (PL) 535 in the Barents Sea, Norway.

The award follows the 20th licensing round organised by the Ministry of Petroleum and Energy in Norway and its affiliate, Total E&P Norge.

The Barents Sea licence PL 535 covers blocks 7225/3 and 7226/1, containing the Nordvarg prospect.

The licence, located by about 370m of water depth, is situated about 275km from the Snohvit LNG plant at Melkoya (Total 18.4%), near Hammerfest on the North Norwegian coast.

Total said that it is committed to actively pursuing, as operator and partner, future opportunities to explore and develop Norway’s oil and gas resources.

Alongside Total, E&P Norge, Aker Exploration, Rocksource and North Energy have each been awarded a 20% interest in the exploration licence.