French oil company Total has given the green light by the Congolese authorities to begin developing the Moho-Bilondo project
French oil company Total has given the green light by the Congolese authorities to begin developing the Moho-Bilondo project, located around 80 kilometers offshore in water depths ranging from 600 to 900 meters.
The production capacity is expected to peak at 90,000 b/d. The project development is to come on stream in 2008.
Total E&P Congo?s (53.5%) partners in the Moho-Bilondo permit are Chevron Congo Overseas Ltd. (31.5%) and the Societe Nationale des Petroles du Congo (15%). The percentages indicated take into account the recent acquisition by Total E&P Congo of a 2.5% interest in the Haute-Mer permit that had been previously held by Energy Africa (subsidiary of Tullow Oil).
Total is the country?s biggest foreign investor and leading oil producer, operating around 57% of output.