Total to Develop 485 Million BOE of Reserves on the Moho-Bilondo Block at a Cost of $10 Billion

摘要

On the Moho-Bilondo exploitation concession, where production started in April 2008 on completion of phase IE of its development, further development is going ahead with phase Ibis and the Moho North project (see map on following page). Announcing this on 22 March, Total, the operator of Moho-Bilondo, disclosed that the main contracts had been awarded for these two development projects [Editor's note: Total referred to the launch of the Moho North project, which includes phase Ibis in the southern part of the acreage (PEX)]. These projects will entail the development of additional hydrocarbon reserves of 485 million barrels of oil equivalent. They are expected to require an investment of $10 billion, or $20.60 per barrel of oil equivalent (boe).