PARIS, March 22 French major Total
said on Friday it had taken a final investment decision (FID)
for the Moho Nord development in Congo, expecting it to produce
its first oil in 2015 and reach 140,000 barrels of oil
equivalent per day in 2017.
The French oil group is banking on a string of African
projects to help fuel a 25 percent rise in output over the next
five years, with growth accelerating after 2015 to top 3 million
barrels of oil and gas a day for the first time.
Moho is one of the three west African projects in deep and
ultra-deep water that would help it deliver the post-2015 surge.
"The launch enhances visibility on Total's production growth
objectiv," Yves-Louis Darricarrere, Total head of exploration,
said in a statement.
The joint development represents an investment of $10
billion, the group said.
Total operates the Moho-Bilondo licence of which it holds a
a 53.5 percent stake.