Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Euronext Paris  >  Total    FP   FR0000120271

TOTAL (FP)

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets 

Total To Abandon Nigerian Well After Stopping Gas Leak

share with twitter share with LinkedIn share with facebook
share via e-mail
0
05/18/2012 | 11:23pm CEST

Total SA (TOT) will permanently abandon a well in Nigeria's Niger Delta after stopping a natural gas leak earlier this week, a company spokesman said Friday.

"Total E&P Nigeria Ltd. announced (Friday) that following the successful 'snubbing' operation on the Ibewa 16 well, cement seals are in place and permanent abandonment of the well is progressing as planned," the spokesman, Fred Ohwahwa, said in a statement.

As a result, the company has informed authorities that two planned relief wells were no longer necessary and will not be drilled, Ohwahwa said.

He said Total was working towards restarting the Obite gas treatment plant, which was shut down after the leak's discovery.

The leak began March 20 during the drilling of a new well in southern River state. Total said it was alerted to the leak on April 3 and shut down the Obite gas plant while a safety perimeter was being enforced around the leak at the Ibeto 16 well.

Ohwahwa said the snubbing operation that started on May 9 to stop the gas leak consisted of introducing small pipes to pump heavy fluids into the well in orderto halt gas flow, and setting cement plugs to isolate the reservoir. The company said it successfully stopped the gas leak on Sunday.

The spokesman said all environmental monitoring activities, including air and water quality analysis, will continue. Total will continue to provide regular updates to neighboring communities, local and federal authorities, regulators and other stakeholders, he added.

Nigeria, a major oil producer, has large gas reserves but little of the gas is used for commercial purposes. Most of it is flared daily in the Niger Delta.

-By Obafemi Oredein, contributing to Dow Jones Newswires; (212) 416 2800; [email protected]

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on TOTAL
10:02a TOTAL : MTPV Power Corporation Appoints Leading Experts to Newly Formed Board of..
04/24 SunPower Corp. - Macy's Celebrates Completion of 21 SunPower Solar Systems du..
04/23 TOTAL : Iran says Total to finalize South Pars deal within weeks
04/22 SUNPOWER : Total & ISE Group commission 27MW solar project in Japan
04/21 TOTAL : MILITARY $133,440 Federal Contract Awarded to Hutchinson Industries
04/21 SUNPOWER : ISE Group, Total and SunPower switch on 27 MW solar project
04/20 TOTAL : Le PDG de Total n'exclut pas une rechute du prix du pétrole
04/20 TOTAL : MILITARY $31,000 Federal Contract Awarded to Hutchinson Aerospace & Indu..
04/20 SUNPOWER : ASQ to Honor Award Recipients for Contributions, Achievements in Qual..
04/19DJSantos Cuts Debt but Asset Sales Weigh on Quarterly Production
More news
Sector news : Integrated Oil & Gas
04/24DJEnergy Firms' $5.1 Billion Financing for Russia Gas Pipeline Stokes EU Fears ..
04/24DJEnergy Firms' $5.1 Billion Financing for Russia Gas Pipeline Stokes EU Fears ..
04/24 Gazprom's Western partners agree financing for $10.3 billion Nord Stream 2 pi..
04/24 OMV to secure long-term financing for 30 percent of its Nordstream 2 share
04/24DJEurope Energy Firms to Finance Up To ?4.75 Billion for Gazprom Nord Stream 2 ..
More sector news : Integrated Oil & Gas
News from SeekingAlpha
04/24 Eni Trades At A Premium Valuation To Total
04/24 A TOUGH NEW COMPETITOR EXXONMOBIL SH : Schlumberger
04/20 Oil prices could fall again on U.S. shale influx, Total CEO says
04/20 MY 75 STOCK MARCH 2017 PORTFOLIO UPD : New Dividend Record And Buying Altria And..
04/18 FOCUS ON EUROPE : Will Marine Le Pen Become France's Next President?
Advertisement
Financials ($)
Sales 2017 169 669 M
EBIT 2017 13 643 M
Net income 2017 10 429 M
Debt 2017 27 077 M
Yield 2017 5,09%
P/E ratio 2017 12,53
P/E ratio 2018 11,05
EV / Sales 2017 0,91x
EV / Sales 2018 0,83x
Capitalization 126 877 M
More Financials
Chart TOTAL
Duration : Period :
Total Technical Analysis Chart | FP | FR0000120271 | 4-Traders
Full-screen chart
Technical analysis trends TOTAL
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 31
Average target price 55,8 $
Spread / Average Target 7,3%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Patrick Pouyanné Chairman & Chief Executive Officer
Bernard Pinatel President-Refining & Chemicals
Patrick de la Chevardière Chief Financial Officer
Jean-François Minster Senior Vice President-Scientific Development
Paul Guy Desmarais Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
TOTAL-4.60%126 877
ROYAL DUTCH SHELL A-7.43%216 278
PETROCHINA COMPANY LIM..-2.01%197 734
NK ROSNEFT' PAO--.--%60 893
PETROLEO BRASILEIRO SA..-6.66%59 448
ENI SPA-6.14%57 415
More Results