Total has signed two agreements to participate exploration of two offshore blocks off northwest Australia.
Under the terms of one agreement with Australia's Woodside, Total takes a 30% interest in WA-269-P, 150 km offshore in 300-1,500 m water depth. Woodside, as operator, is in the joint venture with Japan Australia LNG (MIMI) Pty Ltd., which holds 20% interest.
Total could, under certain conditions, obtain an additional 10% stake in the block.
Total also signed an agreement with Woodside, BHP Billiton, and Japan Australia LNG (MIMI) Pty Ltd. to take a 50% interest in exploration block WA-297-P, which lies 200 km offshore in water depths of 1,000-2,000 m.
Exploration activities are planned in both blocks this year.
1/25/05
