Key Developments: Total SA (TOT.N)

TOT.N on New York Stock Exchange

68.08USD
17 Apr 2014
Price Change (% chg)

$0.31 (+0.46%)
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$67.77
Open
$67.85
Day's High
$68.34
Day's Low
$67.81
Volume
176,014
Avg. Vol
168,901
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$68.34
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$45.93

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Latest Key Developments (Source: Significant Developments)

Total discovers oil in deep offshore Ivory Coast
Wednesday, 16 Apr 2014 08:00pm EDT 

Total SA:Says Total-operated Saphir-1XB exploration well on Block CI-514 proved presence of liquid hydrocarbons in deep offshore west of Ivory Coast.Lying in 2,300 meters of water, Saphir-1XB is first well in Block CI-514.It was drilled to a total depth of 4,655 meters, encountering around 40 meters of net pay containing light 34° API oil, in a series of 350 meters of reservoirs.Data acquired during drilling are being analyzed and will be used to determine the area’s potential and design delineation program.Total E&P Cote d’Ivoire operates Block CI-514 with a 54 pct interest, alongside CNR International (36 pct) and PETROCI Holding (10 pct).  Full Article

Total launches development of Kaombo JV project in Angola
Monday, 14 Apr 2014 02:38am EDT 

Total SA:Final investment decision made together with joint venture partners to develop ultra-deep offshore Kaombo project in Angola.Kaombo to develop estimated reserves of 650 million barrels with its production capacity of 230,000 barrels per day.Project's capital expenditure to reach full capacity was reduced by $4 billion to $16 billion, with expected start-up in 2017.Located about 260 kilometers offshore Luanda in water depths ranging from 1,400 to 1,900 meters, Kaombo project is to develop six of 12 discoveries already made on Block 32.Kaombo development scheme includes 59 subsea wells, connected through around 300 kilometers of subsea lines, to two floating production, storage and offloading (FPSO) vessels, each with production capacity of 115,000 barrels per day.FPSOs to be based on conversions of very large crude carriers (VLCCs) into production units.Associated gas to be exported to onshore Angola LNG plant.  Full Article

Total gets rights to explore Russian shale oil-Interfax
Wednesday, 2 Apr 2014 08:00pm EDT 

Total SA:Secures rights to explore three hard-to-recover oil blocks in West Siberia-Interfax.According to local subsoil watchdog, subsidiary of Total received the licenses for the Vostochno-Kovensky, Tashinsky and Lyaminsky-3 blocks in Khanty-Manssiisk district.  Full Article

NK Lukoil OAO, Total SA sign memorandum on joint operations at Bazhenov suite in West Siberia-Interfax
Monday, 31 Mar 2014 02:02am EDT 

NK Lukoil OAO:Lukoil and French Total SA have signed a memorandum of cooperation on development of the Bazhenov suite in Western Siberia, Lukoil President Vagit Alekperov told journalists-Interfax.Lukoil plans to extract 100,000 tonnes of oil from the Bazhenov suite this year.Oil producers in Western Siberia are working intensively to develop the Bazhenov reserves, which are classified as difficult to extract.  Full Article

Total SAv fixes dividend dates for 2015
Thursday, 27 Mar 2014 03:45am EDT 

Total SA:Board approves ex-dividend dates for 2015.Ex-dividend date Sep. 28, 2015 , Dec. 21, 2015, March 21, 2016, June 6, 2016.  Full Article

Total and CNOOC reinforce strategic LNG partnership
Wednesday, 26 Mar 2014 03:20pm EDT 

Total SA:Signs LNG Cooperation Agreement strengthening partnership with China National Offshore Oil Corporation (CNOOC).Within existing 15 year contract, company has been supplying China with up to 1 million tons per year of LNG since 2010.Price review regarding existing supply agreed.New agreement includes framework for additional supply of 1 million tons per year of LNG as well as further cooperation throughout LNG value chain.  Full Article

InterOil Corporation And Total SA Closes Elk-Antelope Transaction
Tuesday, 25 Mar 2014 08:00pm EDT 

InterOil Corporation and Total SA:Have closed a revised sales and purchase agreement covering the Elk-Antelope gas field in Petroleum Retention Licence 15 in Papua New Guinea.Under the revised agreement signed Total has acquired through the purchase of all shares in a wholly owned InterOil subsidiary a gross 40.1 pct. interest in Petroleum Retention Licence 15.InterOil retains 35.5 pct. of the licence and immediately receives $401 million for closing the transaction.Will receive $73 million on a final investment decision for an Elk-Antelope LNG project and $65 million on the first LNG cargo.InterOil will also receive payments for certified gas volumes following appraisal of Elk-Antelope.  Full Article

Consortium including Total to appeal against Kazakhstan 530 mln euros fine-Reuters
Monday, 17 Mar 2014 08:00pm EDT 

Total SA:Kazakhstan authorities impose fine of 134.2 billion Kazakhhstani tenges (530 million euros) on consortium composed of Exxon Mobil, Royal Dutch Shell, Total, Eni and Kazakh company KazMunaiGas, among others - Reuters.Fine due to ecological damages after Oct. 2013 gas leak on Kashgan oil field being operated by consortium.Consortium risks having part of project seized by Kazakhstan state or part of its investments involved in project not repaid.Consortium says to have appealed against the fine.  Full Article

Total Capital prices 850 mln euros 2026 bond-Reuters
Monday, 17 Mar 2014 08:00pm EDT 

Total SA:Subsidiary Total Capital issues 850 million euros bond - Reuters.Maturity date March 25, 2026.Coupon 2.5 pct.Credit Suisse, Deutsche Bank and HSBC acted as Lead Managers.Bond launched under company's EMTN programme.Total SA acted as guarantor.  Full Article

Total Elgin plant gas leak to be investigated by Scottish Prosecutor-Reuters
Thursday, 13 Mar 2014 08:00pm EDT 

Total SA:Scotland's Crown Office starts considering government reports into causes of gas leak at company's offshore platform Elgin - Reuters.Elgin platform, located about 240 kilometers off Scotland's east coast, spewed gas for more than seven weeks from March 25, 2012.Britain's Health and Safety Executive (HSE) and the energy ministry jointly submitted series of reports into the incident to Scotland's prosecutor, Crown Office and Procurator Fiscal Service.Reports are under consideration of Crown Office health and safety division.Prosecutor is to decide whether to open criminal proceedings.  Full Article

UPDATE 1-Total strikes oil for second time offshore Ivory Coast

* Discovery in western waters comes after oil first struck in east

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