French oil giant Total SA (TOT) is preparing an exploration project that will allow it to extract up to 300 million barrels of oil in the Republic of Congo , its Africa director said Wednesday.

"We hope to be able to develop and take decisions for the development in the next 12 to 18 months," director Jacques Marroaud de Grottes said on public radio.

"We have several hundred barrels to extract, close to 300 million," he said, speaking Tuesday after he had met with Congolese President Denis Sassou Nguesso.

De Grottes said the project would focus on a portion of oil wells north of the Moho-Bilondo oilfield, the country's most important offshore deposit opened by Total in May 2008. The exploitation of the Moho-Bilondo field led to a 35% increase in Republic of Congo 's national production, estimated at 256,000 barrels a day.

Total sees "production of more than 80,000 barrels a day thanks to the exploitation of the Moho Bilondo field," de Grottes said.

Total is the leading operator in the sector in Republic of Congo with 60% of production, according to official figures in 2008.

Republic of Congo is among the five top oil producers in sub-Saharan Africa .
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