Total Takes Stake in Four Deepwater Exploration Blocks Offshore Australia
Total has signed two agreements to participate in the exploration of four offshore blocks situated to the northwest of Australia.
Under the terms of one agreement with the Australian company BHP Billiton, Total takes a 25% interest in the WA-301-P exploration block. BHP Billiton is the operator with a 50% interest and is partnered with the Chinese company CNOOC, also holding a 25% stake.
Total has also signed an agreement with BHP Billiton (operator, 25%) and Kerr-McGee (25%) to take a 25% interest in the exploration blocks WA-303-P, WA-304-P and WA-305-P. CNOOC also holds a 25% stake in these permits.
These four blocks are situated between 300 and 400 kilometers from the shore in water depths ranging from 1,000 to 3,000 meters. Exploration activities are planned starting in 2007.
These new interests illustrate Total's commitment to continue strengthening its presence in Australia, where it is already conducting exploration operations in four deep offshore blocks.
Operates 2 Offshore Rigs
- Private Oil Made a Big Find in Mexico. Now State Oil Wants a Cut (Oct 04)
- BHP Gearing Up to Start Drilling for Oil in Mexico's Deep Waters (Oct 02)
- BHP To Quit US Shale Business As Annual Profit Surges (Aug 22)
Company: Kerr-McGee Corp. more info
- Synergy Resources Approved as O&G Operator in Colorado (May 13)
- Anardarko Is Winner in U.S. Royalty Case (Jan 13)
- U.S. Official Estimates $31B At Stake in Kerr-McGee Case (Feb 26)
Company: Total S.A. more info
- Total CEO: US Shale Oil Industry To See Wave Of Investment (Oct 18)
- Total's CEO Says Will Try To Move Ahead With Iran Gas Project (Oct 17)
- Total Expands Presence in Mexico (Oct 12)
Company: CNOOC more info
- CNOOC Completes Test Runs at Huizhou Refinery in Guangdong - Report (Oct 09)
- Exxon Mobil Bets on Brazil, Buys 10 Oil Blocks in Auction (Sep 28)
- China's CNOOC Begins Oil Partner Hunt in Mexico Deep Waters (Sep 15)