Breaking News
FONT-SIZE Plus   Neg
Share SHARE

Total Still Investigating Cause Of North Sea Gas Leak

RELATED NEWS
Trade TOT now with 

French oil giant Total SA (TOT: Quote, TTFNF.PK, TTA.L) Monday said it is progressing with its actions to stop the gas leak incident on the plugged G4 production well on Elgin platform in North Sea. The company is still investigating the cause of the gas leak, but estimates the gas leakage rate to be nearly 7 Mcf/d.

Last Tuesday, Total confirmed the gas leak which started that weekend. The company said its actions to stop the leakage include pumping of heavy mud directly into the well and drilling of relief wells to intervene at the source of the gas flow.

Total noted that the size of the flare diminishing and the current impact and risks for the environment are relatively low.

According to Total, it will deploy Sedco 714 and Rowan Gorilla V, the two available drilling rigs under contract in the area, for the drilling of the relief wells.

The UK authorities have already set up an exclusion zone around the platform as a wide safety margin. The company also stated that cooperation and coordination with relevant UK authorities is ongoing.

The gas leak has also forced Royal Dutch Shell Plc. (RDS-A, RDSA.L, RDSB.L, RDS-B) to shut down and evacuate workers from Shearwater and Noble Hans Deul rigs, after a safety exclusion zone of two miles was declared by the authorities.

Total said it will continue to make regular updates on the situation.

In Paris, Total shares are currently trading at 38.68 euros, up 1.13 percent, on a volume of 731 thousand shares. In the US, the shares ended on Friday at $51.12.

Register
To receive FREE breaking news email alerts for Total SA and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
The Swiss economy stalled in the second quarter as the improvement in household spending was insufficient to offset the weakness in exports and investment in construction. Gross domestic product remained flat from the first quarter, when it accelerated to 0.5 percent, the State Secretariat for Economic Affairs said Tuesday. Economists had expected GDP to rise 0.5 percent in the second quarter. Policymakers of Reserve Bank of Australia decided to maintain its record low interest rate once again as they continue to assess that the most prudent course is a period of stability in interest rates. The monetary policy board retained the cash rate at 2.50 percent. The rate has been at the current level since August 2013. A ban on athletes using stamina-boosting gases - xenon and argon - came into effect on Monday. The World Anti-Doping Agency (WADA) said Hypoxia-Inducible Factor (HIF) activators Xenon and Argon have been added to the 2014 List of Prohibited Substances and Methods List following the required three-month notice period and UNESCO's communication to all States Parties. A recommendation to revise the
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.