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Total makes North Sea gas discovery at Martin Linge field

Oct. 18, 2016 9:45 AM ETTotalEnergies SE (TTE) StockTTEBy: Carl Surran, SA News Editor1 Comment
  • Total (TOT +0.8%) announces a natural gas discovery in the northeast part of the Martin Linge field in the North Sea, in an area that had been considered unlikely to contain reserves.
  • Norway's energy regulator says initial estimates show the potential for 388M boe in the area, and tests on the well produced gas at a rate of 84M cf/day.
  • The Norwegian government approved the development plan for the Martin Linge field in 2012, and TOT said at the time that development would represent a $4.2B investment.

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