Total Sells Power Generation Assets in Argentina

Total has signed agreements to sell its power generation interests in Argentina.

Since 2001, Total has held a 63.9% interest in Central Puerto S.A., one of Argentina's leading thermal power generators with rated capacity of 2,165 MW, and a 41.3% interest in Hidroélectrica Piedra de Águila, with a 1,400 MW hydroelectric plant in Neuquén province.

Leveraging its position as Argentina's second-ranked gas operator, Total will now focus on exploration and production. Present in the country since 1978, the Group operates fields in Terra del Fuego and the Neuquén region, with equity output of 74,000 barrels of oil equivalent per day in 2005. Total also has interests in pipeline networks serving markets in Argentina and adjoining countries and is active in liquefied petroleum gas and lubricant marketing, as well as chemicals.

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Posted 13/11/06

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