Total Takes Stake in Browse Basin Permit Offshore Australia
Total has signed an agreement with U.S.-based Apache to farm into the offshore AC/P37 permit in Australia's Browse Basin. Located around 200 kilometers off the northwestern coast in a water depth of approximately 200 meters, this permit covers an area of 4,415 square kilometers.
Total is acquiring an 80% interest in and will operate the lower levels of this permit, beginning at a depth of roughly 4,000 meters. Apache is retaining a 20% interest and holds a 100% interest in the upper levels.
The farm-in strengthens Total's presence in Australia's North West Shelf, where it has interests in nine permits, and in the Browse Basin in particular, where the Group has had a 24% interest in the WA-285P permit containing the Ichthys discovery since 2006. The Ichthys liquefied natural gas project is scheduled to come on stream early in the next decade.
Operates 4 Offshore Rigs
- Apache Raises North America Output Forecast, Swings To Profit (May 04)
- Oil Producer Apache Posts Smaller-Than-Expected Loss (Nov 03)
- Trade Group Oil & Gas UK Makes 4 Board Appointments (Oct 04)
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)