On July 15, Total S.A. (TOT: 49.14 0.00 0.00%) received the approval to develop the Islay gas fields — situated in the northern North Sea, 440 kilometers north east of Aberdeen, Scotland — from United Kingdom Department of Energy and Climate Change and the Norwegian Ministry of Petroleum & Energy. Total expects to start production from the field in the second half of 2011.The Islay gas field was discovered in 2008 and lies under 120 meters of water with an estimated 17 million barrels of oil equivalent of gas and condensate reserve. Total S.A. owns the entire interest in Islay. Also, the company has sole ownership in Alwyn North, Dunbar, Grant, Ellon, Nuggets, Forvie North and Jura fields in the same region. Islay is 3 kilometers east of Jura and will be connected to Total’s Alwyn facility.
The company estimates peak gas production from the Islay gas field at 2.5 million cubic meters per day. The company plans to develop the offshore Islay gas field on UK Block 3/15 and Norway Blocks 29/6a and 29/6c.
With the upstream project Laggan-Tormore already having launched in first-quarter 2010 and gaining approval for developing the Islay gas field, the company expects to strengthen its foothold in the North Sea and in the United Kingdom Continental Shelf. Total S.A. is also vending mature assets in Norway and in the U.S. in an effort to optimize its upstream portfolio.
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