TotalFinaElf To Boost Qatar Production

TotalFinaElf and Qatar Petroleum, the Qatari national oil company, have received approval for the North development plan of the Al Khalij field located on Block 6, offshore Qatar, in approximately 60 meters of water.

The Al Khalij field has been in production since March 1997 and currently produces more than 40,000 barrels of oil per day; its production should be increased to 60,000 barrels per day upon completion of the drilling campaign currently underway.

The development of the northern area will then increase the daily production capacity of the field to 80,000 barrels of oil. The investment, which will target new reservoirs in the field, is in the range of 150 million dollars.

First oil from the new facilities is planned for beginning 2004. Along with the development of the northern area, TotalFinaElf has been granted the rights to appraise and develop an extension of the field located to the north of Block 6. An appraisal well will be drilled in 2003 in this extension in case of a success. As recently announced, TotalFinaElf is now holding 100% on the Al Khalij field after acquisition of the Agip's interest.

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