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Total awarded an exploration license for block 14

Thursday, May 03, 2012

Total announces that it has been awarded an exploration license for Uruguay’s offshore Block 14, following the second bidding round held by the national company, ANCAP. This license remains subject to further approval by Uruguayan authorities.

Block 14 has a surface area of 6,690 km² and is located in the Pelotas Basin 250 km offshore.  Water depths in this highly-promising and under-explored area range from 2,000 to 3,500 meters.

“Our successful bid on Block 14 is consistent with Total’s bold exploration strategy focused on exploring new, high-potential plays. The bidding process for this particular block was very competitive in terms of the proposed work program and financial commitment, and we are delighted with our success,” said Marc Blaizot, Total’s Senior Vice President, Exploration. “Together with our recently-acquired licenses in Ivory Coast, Kenya, Mauritania and Angola, this award in Uruguay further increases our potential for frontier exploration.”

Total has additional Exploration and Production assets in the Southern Cone, notably interests in Argentina, Brazil and Bolivia.

Source: Total

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