Total's offshore Moho Nord field in Congo Republic contains about 300 million barrels of oil and a decision on development could be taken by the middle of next year, the French energy giant's head of African operations said.
Total (TOTF.PA) already produces about 90,000 barrels of oil per day from the central African country, and announced in May 2009 that drilling results revealed additional significant recoverable reserves in its Moho Nord field.
"It is a project where we have a bit of oil to develop, approximately 300 million barrels," Jacques Marraud des Grottes, Total's director for Africa, said late on Tuesday on state television after a meeting with President Denis Sassou Nguesso.
"It is a project we hope to develop, and expect decisions on development in the next 12 to 18 months," he said.
Congo's government said late last year it would double spending in 2010 to bolster infrastructure and combat poverty on the back of an expected 16 percent increase in nationwide oil output to about 350,000 barrels per day.
Some of the production increase was expected to come from Total's Moho Bilondo development, of which Moho Nord is a part.
Several other international oil companies, including Italy's ENI and U.S. major Chevron, also operate in the country, where production is estimated at around 300,000 bpd.
