24th May 2006 16:14
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, Totaltakes a 25% interest in the WA-301-P exploration block. BHP Billiton is theoperator 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-Pand 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 inwater depths ranging from 1,000 to 3,000 metres. Exploration activities areplanned starting in 2007. These new interests illustrate Total's commitment to continue strengthening itspresence in Australia, where it is already conducting exploration operations infour deep offshore blocks. Total is one of the world's major oil and gas groups, with activities in morethan 130 countries. Its 95,000 employees put their expertise to work in everypart of the industry - exploration and production of oil and natural gas,refining and marketing, gas trading and electricity. Total is working to keepthe world supplied with energy, both today and tomorrow. The Group is also afirst rank player in chemicals, www.total.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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