French E&P spending, landholding growth expected

03/06/2006
Investment in 2006 for exploration and production in France and French possessions should more than double to €145 million from €65 million in 2005.Operators expect to drill 10-15 exploration wells in 2006, spending €67 million compared with only €19 million in each of 2005 and 2004.Lundin Petroleum AB, Stockholm, and Toreador Energy France (formerly Madison Energy France) operated 2005’s only successful exploration well. La Tonnelle-1 on the Nemours Permit in the Paris basin gauged oil in Triassic Chaunoy sandstone (OGJ Online, Nov. 9, 2005). Production tests were carried out at the end of 2005, and extension work is expected in coming months.Acreage and seismic...
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