Total Acquires Two New Blocks Offshore Australia
Total has acquired a 100% interest in two exploration permits off the northwestern coast of Australia following a licensing round of Australian authorities.
Covering a respective area of 5,150 and 5,685 square kilometers, Blocks WA-402P and WA-403P are located roughly 200 kilometers offshore in a water depth of 100 meters.
Exploration of the blocks is scheduled to begin in 2008.
The new acquisitions further illustrate Total's commitment to strengthening its presence in northwestern Australia, a region with rich gas reserves, and are the Group's first investment in the Bonaparte Basin, one of the largest basins in the area. All together, the Group has interests in 12 permits in Australia's North West Shelf, and in the Browse Basin in particular, where in 2006 it acquired a 24% interest in the WA-285P permit containing the extremely promising Ichthys gas and condensate discovery.
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