Total S.A.
24 May 2006
Australia: Total takes a stake in four deep offshore exploration blocks
Paris, May 24, 2006 - Total announces the signature of two agreements to
participate in the exploration of four offshore blocks situated to the northwest
of Australia.
Under the terms of one agreement with the Australian company BHP Billiton, Total
takes a 25% interest in the WA-301-P exploration block. BHP Billiton is the
operator with a 50% interest and is partnered with the Chinese company CNOOC,
also holding a 25% stake.
Total has also signed an agreement with BHP Billiton (operator, 25%) and Kerr-
McGee (25%) to take a 25% interest in the exploration blocks WA-303-P, WA-304-P
and WA-305-P. CNOOC also holds a 25% stake in these permits.
These four blocks are situated between 300 and 400 kilometres from the shore in
water depths ranging from 1,000 to 3,000 metres. Exploration activities are
planned starting in 2007.
These new interests illustrate Total's commitment to continue strengthening its
presence in Australia, where it is already conducting exploration operations in
four deep offshore blocks.
Total is one of the world's major oil and gas groups, with activities in more
than 130 countries. Its 95,000 employees put their expertise to work in every
part of the industry - exploration and production of oil and natural gas,
refining and marketing, gas trading and electricity. Total is working to keep
the world supplied with energy, both today and tomorrow. The Group is also a
first rank player in chemicals, www.total.com
This information is provided by RNS
The company news service from the London Stock Exchange
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.