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Total Makes Major Gas Discovery in Caspian Sea

Source: www.gulfoilandgas.com 9/9/2011, Location: Asia

Total announces a major gas discovery in the Caspian Sea in the Absheron block offshore Azerbaijan. The Absheron X-2 well has encountered more than 500 feet of cumulated net gas pays within high quality sands on the northern flank of a major 270 square kilometres structure. Reservoirs are expected to extend over the entire northern part of the structure.

The well’s first results confirm a potential of several trillion cubic feet of gas and associated condensates.

« This discovery could be very significant in terms of resources» said Total’s Senior Vice President Exploration, Marc Blaizot. « It is the result of Total’s bolder exploration strategy aimed at exploring high risk/high reward prospects both in prolific and frontier basins particularly in high pressure, deeply buried reservoirs. Our geoscientists and drillers have all the skills to make other discoveries in similar environments like the United Kingdom, Brunei, Malaysia or Egypt where new permits have been recently awarded to Total. »

The well is currently at a depth of approximately 6,550 metres. Drilling will continue to explore further deeper objectives that look attractive. The well will then be tested to better confirm the reservoir potential.

The Absheron discovery is located in 500 metres of water, 100 kilometres south east of Baku, some 25 kilometres north east of the Shah Deniz gas and condensate field.

Total subsidiary, Total EP Absheron is the operator of the Absheron license with a 40% equity. The partners are SOCAR (40%) and GDF SUEZ (20%).

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