Total gets stakes in Australian blocks

Total SA has signed agreements to participate in exploration on two blocks off northwestern Australia this year.

Jan. 24, 2005

By OGJ editors

HOUSTON, Jan. 24 -- Total SA has signed agreements to participate in exploration on two blocks off northwestern Australia this year.

Under the first agreement, Total receives a 30% interest in the WA-269-P Block in 300-1,500 m of water and can increase that interest by a further 10%. Woodside Petroleum Ltd., Perth, is the operator of the block on behalf of Japan Australia LNG (MIMI) Pty. Ltd., which holds a 20% interest.

Under the second agreement, Total joins Woodside, BHP Billiton Ltd., Melbourne, and Japan Australia LNG, taking a 50% interest in the WA-297-P Block in 1,000-2,000 m of water.