Total E&P Canada

Total E&P Canada

December 08, 2011 15:08 ET

Total Acknowledges Receipt of Federal Order in Council for Joslyn North Mine Project

CALGARY, ALBERTA--(Marketwire - Dec. 8, 2011) - The Total E&P Canada (Total) Joslyn North Mine Project (the Project) today received its Order in Council from the Government of Canada. This final stage of regulatory approval marks a major milestone in the process to sanction and commence construction of the Total-operated Joslyn North Mine Project.

The Joslyn North Mine Project received Joint Review Panel approval in January 2011, which set out conditions to be fulfilled by Total E&P Canada in developing the Project, and confirmed additional commitments made during the 2010 hearing process. The Order in Council to grant approval of the Project reflects Total's ability and intention to meet its commitments as a safe and a reliable operator in Canada's oil sands.

"Our team is very pleased to receive approval of the Joslyn North Mine Project through this Order in Council. For nearly six years, Total has worked extremely hard to design and develop the best project possible - economically, socially and environmentally," said Jean-Michel Gires, President and CEO of Total E&P Canada, "As operator of the Joslyn North Mine Project, this represents a key component in realizing Total's plans to be a leading producer in Canada's oil sands." "I would like to thank all of our stakeholders involved in this regulatory process for their participation. The rigour in the process has helped to ensure that the Joslyn North Mine will be a model for responsible development," added Mr. Gires.

Total has been preparing for Early Works at the Joslyn site which will run throughout 2012. In parallel, Total is working to complete engineering studies that incorporate changes following its partnership with Suncor Energy on the Joslyn North, Fort Hills, and Voyageur projects. The Joslyn North Mine is expected to produce 100,000 barrels of bitumen per day over its 20 year lifespan with first production now planned for 2018.

Total Exploration and Production in Canada

Total E&P Canada owns a 50 per cent interest in the Surmont SAGD(1) project. Phase 1 production began in 2007 and currently averages 23,000 b/d. Phase 2 development began recently, with production scheduled to start up in 2015, enabling Surmont's total production to increase to around 136,000 b/d. Further development phases are under study.

(1) Steam Assisted Gravity Drainage

As part of its joint venture with Suncor Energy, Total E&P Canada is operator of the Joslyn project with a 38.25 per cent interest. Production potential of the Joslyn North Mine Project is currently estimated at 100,000 b/d with further expansion potential up to 200,000 b/d. Total E&P Canada also has a 49 per cent interest in the Voyageur Upgrader and 39.2 per cent interest in the Fort Hills Project.

Total E&P Canada has a 50 per cent interest in the Northern Lights Project following the 2008 acquisition of Canada's Synenco Energy.

Total is one of the world's major oil and gas groups, with activities in more than 130 countries. Its 93,000 employees put their expertise to work in every part of the industry - exploration and production of oil and natural gas, refining and marketing, gas & power and trading. Total is working to keep the world supplied with energy, both today and tomorrow. The Group is also a first rank player in chemicals. www.total.com.

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