Total to acquire Browse basin interests

Total has agreed to acquire from ConocoPhillips WA Exploration Pty. Ltd. 40% interests in three offshore exploration permits northeast of Ichthys gas field in Australia's Browse basin.

Uchenna Izundu
International Editor

LONDON, Oct. 29 -- Total has agreed to acquire from ConocoPhillips WA Exploration Pty. Ltd. 40% interests in three offshore exploration permits northeast of Ichthys gas field in Australia's Browse basin.

The plan is subject to approval by Australian authorities. Inpex Corp. holds 60% interests in the blocks and is operator.

Blocks WA-341P (1,628 sq km), WA-343P (1,220 sq km), and WA-344P (667 sq km) are 200 km offshore in 50-250 m of water.

Total holds a 24% interest in Ichthys field, which will supply a $10 billion (Aus.) liquefaction plant undergoing a feasibility study. Operations are expected to begin in the next decade.

The Inpex-Total SA joint venture involves piping gas 200 km from Ichthys field to two LNG trains of 3.8 million tonnes/year capacity, commissioned a year apart, to be built on South Maret Island (OGJ Online, Feb. 2, 2007).

Contact Uchenna Izundu at uchennai@pennwell.com.

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