2009-08-05-2009-08-01

To buy 49% interest in Terneftegas, which holds license to develop Termokarstovoye Field.

Total SA, Paris, (NYSE: TOT) plans to acquire a 49% interest in Terneftegas, a subsidiary of Moscow-based Novatek for an undisclosed price. Novatek will maintain the remaining 51% interest in Terneftegas. Terneftegas holds a license to develop and produce gas and condensates in the onshore Termokarstovoye Field in the Yamalo-Nenets region. The field has a potential of more than 47.3 billion cubic meters of gas and about 10.3 million tons of condensate. Novatek and Total will carry out additional appraisal and development studies on the Termokarstovoye field with the objective to launch the project in 2011. Total chief executive Christophe de Margerie says, "Total is very pleased to become Novatek's partner in the Russia arctic region, which presents exciting development and production opportunities. This agreement with Novatek consolidates the strategy that Total aims to implement in the Russian gas sector."