EX-99.8 9 d497296dex998.htm EX-99.8 EX-99.8

EXHIBIT 99.8

 

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Press Release

Brazil’s Giant Libra Field Comes On Stream

Paris, November 27, 2017 – Total announces first oil from the Libra mega-field, located in ultra-deep waters 180 kilometers offshore Rio de Janeiro, in the pre-salt Santos Basin in Brazil. The floating production, storage and offloading (FPSO) unit Pioneiro de Libra has a capacity of 50,000 barrels of oil. This start-up of the early production system will generate revenue while also enabling technical data to be collected to optimize the subsequent development phases.

Total is pleased that production has begun on the giant Libra field, which is a multi-billion barrel resource,” said Arnaud Breuillac, President, Exploration & Production at Total. “Libra is a major asset in Total’s portfolio and fits into our strategy of investing in highly competitive projects with low break-even points. The start-up is a major step in the development of this field, and Total is bringing its deep offshore expertise to the project.”

Beyond this early production phase, the Libra development will further continue with the next investment decision for the Libra 1 FPSO with a capacity of 150,000 barrels per day. In the years ahead, other production units of similar capacity will be invested in so that the field can be developed to its full potential.

The Libra field is operated by Petrobras (40%) as part of the international consortium whose other partners are Total (20%), Shell (20%), CNOOC (10%) and CNPC (10%).

Total in Brazil

Total has been present in Brazil for over 40 years, has more than 2,800 employees there and operates through five affiliates in the exploration and production, gas, lubricants, chemicals and renewable energies (solar and biomass) segments.

Total Exploration & Production’s portfolio of assets currently includes 15 exploration blocks, located in the Barreirinhas, Ceará, Espirito Santo, Foz do Amazonas and Pelotas basins.

In February 2017, Total and Petrobras signed agreements covering a number of upstream and downstream assets in Brazil, cementing the Strategic Alliance announced in December 2016. Under that deal, Total will hold a 22.5% stake in the Iara concession area in Block BM-S-11 and a 35% stake in and operatorship of Block BM-S-9 in the Lapa field concession, which came on stream in December 2016. Additionally, technical cooperation between the two companies will be strengthened, particularly through joint appraisal of the exploration potential in promising areas in Brazil and through the development of new technologies,


particularly in the deep offshore. The transaction is subject to approvals by the relevant regulatory entities.

About Total

Total is a global integrated energy producer and provider, a leading international oil and gas company, a major player in low-carbon energies. Our 98,000 employees are committed to better energy that is safer, cleaner, more efficient, more innovative and accessible to as many people as possible. As a responsible corporate citizen, we focus on ensuring that our operations in more than 130 countries worldwide consistently deliver economic, social and environmental benefits.

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Total contacts

Media Relations: +33 1 47 44 46 99 | presse@total.com | @TotalPress

Investor Relations: +44 (0)207 719 7962 | ir@total.com

Cautionary note

This press release, from which no legal consequences may be drawn, is for information purposes only. The entities in which TOTAL S.A. directly or indirectly owns investments are separate legal entities. TOTAL S.A. has no liability for their acts or omissions. In this document, the terms “Total” and “Total Group” are sometimes used for convenience where general references are made to TOTAL S.A. and/or its subsidiaries. Likewise, the words “we”, “us” and “our” may also be used to refer to subsidiaries in general or to those who work for them.

This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TOTAL S.A. nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise.

Cautionary Note to U.S. Investors – The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to separately disclose proved, probable and possible reserves that a company has determined in accordance with the SEC rules. We may use certain terms in this press release, such as resources, that the SEC’s guidelines strictly prohibit us from including in filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 20-F, File No. 1-10888 available from us at TOTAL S.A. – Tour Coupole – 2, place Jean Millier – Arche Nord Coupole/Regnault – 92078 Paris La Défense Cedex – France, or at our website: www.total.com. You can also obtain this form from the SEC by calling 1-800-SEC-0330 or on the SEC’s website: www.sec.gov.