Total farms into Browse basin permit off Australia

Total SA has gained an 80% interest in offshore AC/P37 permit in Australia's Browse basin under a farmout agreement with Apache Corp., Houston.

Feb. 2, 2007

Uchenna Izundu
International Editor

LONDON, Feb. 2 -- Total SA has gained an 80% interest in offshore AC/P37 permit in Australia's Browse basin under a farmout agreement with Apache Corp., Houston.

Total will operate the lower level of the permit beginning at 4,000 m. Apache will have a 20% interest and hold a 100% interest in the upper levels.

The permit covers 4,415 sq km and lies in 200 m of water about 200 km off the northwestern coast.

Total has interests in 9 permits in the North West Shelf and in the Browse basin in particular, where it has a 24% stake in the WA-285P permit containing the Ichthys discovery. The Ichthys LNG project is scheduled to come on stream early in the next decade.

Contact Uchenna Izundu at [email protected].