2009-08-19-2007-10-01

To acquire 35% interest in the production-sharing contract for Block 15-1/05 offshore covering 3,840 sq. km. in Cuu Long Basin.

Total SA, Paris, (Paris: FP; NYSE: TOT) plans to acquire a 35% interest in the production-sharing contract for Block 15-1/05 offshore Vietnam. Joint-venture partners will include PetroVietnam Exploration and Production, which holds 40% interest and is the operator, and South Korea-based SK Corp., which holds 25%. The agreement also calls for increased international cooperation between PetroVietnam and Total, particularly in exploration. The block covers 3,840 square kilometers in the Cuu Long Basin near the Su Tu Den, Su Tu Vang, Su Tu Trang and Su Tu Nau discoveries. Phase One exploration will be launched before year-end and will include 800 square kilometers of 3-D seismic acquisition and two wells. The deal marks Total's entry into Vietnam, part of its strategy of diversifying its assets in the Asia-Pacific region. The company currently has production of 253,000 barrels of oil equivalent per day in the region, accounting for 11% of its total production.