June 13, 2018 - 7:09 AM EDT
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Blog Exposure - Total Partners With Repsol and Alnaft to Sign Exploration and Development Agreement for Extension of TFT Gas Field License

LONDON, UK / ACCESSWIRE / June 13, 2018 / If you want access to our free research report on TOTAL S.A. (NYSE: TOT), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=TOT as the Company’s latest news hit the wire. On June 11, 2018, the Company announced that it has partnered with Spain’s Repsol S.A., and Algeria’s National Agency for the Valorization of Hydrocarbon Resources ("Alnaft"), which is an agency of Algerian state energy Company SONATRACH, to sign an exploration and development agreement for the extension of the Tin Foye Tabankort (TFT) gas field license. Register today and get access to over 1,000 Free Research Reports by joining our site below:


Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, TOTAL S.A. most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:


Details of the New Concession Agreement for TFT Gas Field

The new concession agreement is for the extension of the exploitation of the TFT gas and condensate field. The extension period of the contract is for 25 years and the agreement will be effective immediately on receipt of requisite approvals from the relevant Algerian authorities. As per the terms of the new contract, SONATRACH will have a majority interest with 51%, followed by Total with a 26.4% interest, and Repsol with a 22.6% interest. The partner Companies have also entered into a separate gas marketing agreement.

The new agreement will allow the partners to invest in the drilling and development activities required to develop additional reserves at the TFT field. It is estimated that the TFT field has reserves of over 250 million barrels of oil equivalent. The investment from the partner Companies will help maintaining a production rate of over 80,000 barrels of oil equivalent per day for 6 years.

Commenting on the new concession agreement for the TFT field, Patrick Pouyanné, Chairman and Chief Executive Officer (CEO) of Total, said:

"Today’s agreements mark a new milestone in the implementation of the comprehensive partnership agreement signed between SONATRACH and Total in April 2017, and strengthen the strategic cooperation between the two Companies. As a historical partner of the TFT field, Total will continue to provide the best of its technological expertise to keep developing the reserves of this gas field."

About Total’s Business Interest in Algeria

Total has been doing business in Algeria since 1952 and is engaged in various exploration and production activities. Since April 2017, Total has partnered with SONATRACH to strengthen its exploration and production activities in Algeria. Total’s production in Algeria was 15,000 barrels of oil equivalent per day (boe/d) in FY17, all of which was from the TFT gas and condensate field. The TFT field is located 300 kilometers west of the Libyan border. The Group currently holds a 35% in interest in TFT. The Company also signed an agreement with SONATRACH in May 2018 to launch the engineering studies for a petrochemical project in Arzew, Western Algeria.

The Company also owns a 37.75% stake in the Timimoun gas field in southwestern Algeria, which is currently in production and has a capacity of 5 million cubic meters of gas per day (around 30,000 boe/d). The Company owns a 12.25% interest in the El Merk, Hassi Berkine, and Ourhoud oil fields following the completion of the acquisition of Maersk Oil in March 2018. These fields have a combined production capacity of 400,000 boe/d. Total acquired the upstream liquefied natural gas (LNG) assets of Engie in November 2017. On completion of this acquisition, Total will add 4.6 million tons per year to the Group’s global LNG portfolio due to the supply agreements with SONATRACH.

Total also actively markets lubricants and bitumen in Algeria.

About Total S.A.

Paris, France-based Total is the world’s fourth largest oil and gas Company, and is a major integrated player in the low carbon energies. The Company discovers, produces, transforms, markets, and distributes energy in a variety of forms. The Company has operations in over 130 countries and has over 98,000 employees.


SONATRACH is the Algerian acronym for National Company for the Transport and Commercialization of Hydrocarbons. Alger, Algeria-based SONATRACH is an integrated international oil and gas group. It is the first oil Company in Africa and is a major energy supplier globally. The SONATRACH Group via its projects, and national and international subsidiaries, has a presence across Mali, Mauritania, Tunisia, Libya, Niger, Nigeria, Italy, Spain, England, Peru, and Singapore. SONATRACH has two agencies - Alnaft (the National Agency for the Valorization of Hydrocarbon Resources), and ARH (the Hydrocarbon Regulatory Authority).

About Repsol S.A.

Madrid, Spain-based Repsol is a global integrated energy Company. It is present across the entire value chain in the oil and gas industry from exploration to the final marketing of products and services. The Company markets its products in over 90 countries, has operations in 37 countries, and is supported by a global team of over 25,000 employees.

Stock Performance Snapshot

June 12, 2018 - At Tuesday’s closing bell, TOTAL’s stock declined 2.39%, ending the trading session at $60.89.

Volume traded for the day: 1.55 million shares.

Stock performance in the last three-month – up 5.60%; previous six-month period – up 9.36%; past twelve-month period – up 19.07%; and year-to-date - up 10.15%

After yesterday’s close, TOTAL’s market cap was at $162.74 billion.

Price to Earnings (P/E) ratio was at 19.35.

The stock has a dividend yield of 4.88%.

The stock is part of the Basic Materials sector, categorized under the Major Integrated Oil & Gas industry.


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