PARIS (AFX) - Total SA said it has acquired 25 pct stakes in four offshore oil blocks located 300-400 km to the northwest of Australia, where exploration is set to begin in 2007.
The company said a first deal, with BHP Billiton, will give it a 25 pct stake in the WA-301-P block, where BHP is the operator with a 50 pct stake, and China's CNOOC holds the remaining 25 pct.
A second deal with BHP and Kerr-McGee will give Total 25 pct stakes in three more fields; WA-303-P, WA-304-P and WA-305-P. BHP is again the operator with a 25 pct stake, while Kerr-McGee and CNOOC also own 25 pct stakes.
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