By OGJ editors
HOUSTON, May 11 -- Total SA has purchased an additional 6.5% interest in the Surmont leases of the Athabasca oil sands area, 60 km southeast of Fort McMurray, Alta.
The transaction increases Total's stake in the Surmont leases to 50%.
The Surmont oil sands project, which uses steam-assisted gravity drainage, is to start Phase I production in 2006. Production is expected to reach 27,000 b/d of bitumen.
Alberta authorities have approved Phase II, which involves expanding plateau production to 100,000 b/d by 2012.
