Total announces an oil discovery on its ultra-deep offshore permit Mer Très Profonde Sud (MTPS), located approximately 200 kilometres southwest of Pointe Noire (Republic of Congo) in water depths near to 2,000 meters.
The new discovery well Pégase Nord Marine 1 was drilled to a total depth of 3,622 meters and tested at a flow rate of 14,360 barrels of oil per day. Further evaluation of this well and its potential are presently ongoing.
The MTPS permit was awarded in May 1997 and covers an area of more than 5,000 square kilometres with water depths ranging from 1,300 to 3,000 meters. Total E&P Congo is the operator (40%) in consortium with Eni Congo (30%) and Esso Exploration and Production Congo (MTP Sud) Ltd. (30%).
Pégase Nord Marine 1 is the second discovery well on this permit following the completion of Andromède Marine 1 discovery well in May 2000. These two wells could contribute to forming a new development pole.
Total has a strong position in the Republic of Congo and ranks as the leading oil producer as well as the largest foreign investor. In 2003 the group's equity share of production in Republic of Congo was an average of 91,000 barrels of oil equivalent per day.
